Crypto-Wary Australian Bank to Pay Record Fine For AML/KYC Violations


The Commonwealth Bank of Australia (CBA), which recently banned customers from buying cryptocurrency with credit cards, has agreed to pay AUD $700 million in addition to legal costs for violating anti-money laundering and anti-terrorist laws that delivered millions of dollars to drug dealers, according to ABC News. AUSTRAC, the federal financial agency, accused the bank

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Posted by Lester Coleman on June 6, 2018 @ https://www.ccn.com/crypto-wary-australian-bank-to-pay-record-fine-for-aml-kyc-violations/

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