Police are working with CBA this week as AUSTRAC examines suspected loan fraud and laundering, in a warning shot for bank controls across the sector.
Banking
Australia’s biggest bank self-reported loans it suspected were fraudulent to the police. Now the feared financial crimes regulator is on the case.
Australia’s biggest bank tried to avoid a public backlash as it made one of the first moves by a blue chip company to shed staff amid AI disruption.
Bendigo and Adelaide Bank is repairing compliance failures and investing $80 million in risk systems, as its digital arm turns profitable and competition intensifies.
The big banks are riding a strong earnings run and a market high. But with valuations stretched, how long can the buzz last?
Australia’s largest bank was found to have breached its disclosure obligations leading up to the $700 million AUSTRAC settlement. Now the High Court will decide whether it will have to pay for it.
CBA boss Matt Comyn isn’t buying the AI doomsaying, arguing the tech is more likely to lift jobs and productivity than gut Australia’s white-collar sector.
It’s rare for a big bank to trade with the exuberance of a tech stock. Here’s what gave CBA its biggest day on the ASX in six years.
The Australian investment titan has admitted it is exposed to two of the biggest forces shaping markets at the moment — AI and private credit. Just not in the way you might expect.
The $80 billion financial services titan has detailed its insights into global markets, domestic banking and promotional gimmicks.
The big banks are racing to prove their AI credentials, with each major stepping up investments as competition and pressure across the sector intensify.
The $52 billion fintech has found common ground with Australia’s largest bank as it looks to ramp up competitive pressure on Apple, Visa and Mastercard.
Fighting scams is vital, but many Australian banks have gone too far on crypto, limiting legitimate activity in the name of protection.
Mastercard says authenticated agentic commerce is nearly ready for prime time in Australia. The question is how quickly retailers and consumers will adopt it.
Banks closed 16,000 mule accounts last year, and Airwallex is caught in the controversy. So who is behind the scams on Facebook — and why can’t they be stopped?
The big four bank is making cuts and changes to its consumer finance teams as it finally completes the integration of Citigroup's Australian retail business, which it acquired in 2022.
The social media giant won’t act on removing thousands of groups facilitating the trade of bank accounts, frustrating both big banks and law enforcement.
NAB and the Commonwealth Bank have been turbocharging their retail push, escalating a talent war as competition heats up across Australia’s major banks.
