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BRIEF-Commonwealth Bank Of Australia responds to media reports
August 31, 2017 / 11:05 PM / 24 days ago

BRIEF-Commonwealth Bank Of Australia responds to media reports

Sept 1 (Reuters) - Commonwealth Bank Of Australia

* responds to media reports on transaction monitoring

* document referred to in reports was working document, proposing technology enhancements as part of ongoing program

* notes recent media reports concerning compliance & transaction monitoring in offshore jurisdictions by institutional banking & markets division

* Program of action, including automation of tasks currently undertaken manually

* program includes investment in systems to enhance transaction monitoring currently performed in Australia & offshore jurisdictions

* a committee of board of bank was established on 8 Aug to oversee bank’s response to austrac’s statement of claim.

* committee comprises Mary Padbury, who chairs committee, Catherine Livingstone, Brian Long , Shirish Apte Source text for Eikon: Further company coverage:

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