All posts tagged "CBA"
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69AML / KYCAustralian Banks Facilitate Arrest of Phishing Tool Developer
The developer of a phishing kit used to steal tens of millions of dollars from bank accounts in 11 countries has been arrested in Ukraine.
February 19, 2021 -
154Australia & NZBEAR Has Brought Desired Culture Changes at Banks: Research
New research from Macquarie University has found that the BEAR has changed behaviour and culture at banks for the better.
February 19, 2021 -
68Australia & NZASIC Seeks Penalties from CBA for Overcharged Interest
Due to a systems error, CBA charged more than 1,510 customers a higher interest rate than they were advised, amounting to A$2.2 million in overcharged interest.
February 17, 2021 -
79Australia & NZASIC Issues Update on Advice Compensation Paid by Banks
Australia's largest financial institutions have paid over A$1.24 billion to compensate customers for fees-for-no-service misconduct and non-compliant advice.
February 17, 2021 -
245Australia & NZ
APRA Publishes Findings From Big Banks’ BEAR Implementation Review
CBA had the most developed approach to implement the BEAR, benefitting from the execution of its remedial action plan associated with the Prudential Inquiry.
December 11, 2020 -
388Australia & NZAPRA Lowers Allianz Capital Charge to Reflect Better Risk Governance
In recognition of progress to address risk governance issues, APRA has reduced Allianz's additional capital requirement from A$250mn to A$150mn.
December 11, 2020 -
329EuropeLloyds UK Launches First Live Link of ‘SWIFT gpi Instant’
Remittance payments from anywhere in the world destined for the UK routed through Lloyds can arrive in seconds with fee and foreign exchange transparency.
December 3, 2020 -
117Australia & NZ
ASIC Files Court Proceedings Against CBA for Overcharged Interest
The overcharging of interest in overdraft accounts was caused by a systems error, which CBA tried to fix manually. ASIC says the bank broke the law over 12,000 times.
December 2, 2020 -
769Australia & NZAustralia Gets New Guidance for Internal Auditors in Financial Services
The Better Practice Guide was developed by industry practitioners with APRA and ASIC serving as vocal observers and EY and KPMG providing secretariat support.
November 29, 2020 -
453Australia & NZAPRA Halves CBA Operational Risk Capital Add-on
CBA has made "significant progress" in areas such as risk management and compliance, remuneration and risk culture, APRA says.
November 20, 2020
