Australia's Commonwealth Bank Chief To Retire Amid Laundering Claims
Faizan Hashmi Published August 14, 2017 | 08:30 AM
The chief executive of Australia's biggest bank, the Commonwealth, will retire, the company said Monday, amid pressure from regulators over alleged breaches of money laundering and terrorism financing laws
SYDNEY, (APP - UrduPoint / Pakistan Point News - 14th Aug, 2017 ) - The chief executive of Australia's biggest bank, the Commonwealth, will retire, the company said Monday, amid pressure from regulators over alleged breaches of money laundering and terrorism financing laws.
The bank's chair Catherine Livingstone said in a statement to the stock exchange that Ian Narev "will retire by the end of the 2018 financial year". Narev faced calls to step down last week after the financial intelligence agency AUSTRAC launched a civil action against the bank alleging "serious and systemic non-compliance" of the laws more than 53,000 times.
Related Topics
Recent Stories
New Zealand’s weak team upset Pakistan's victory streak at home
US State Dept Arabic spokesperson Hala Rharrit resigns over Gaza policy
Punjab govt decides to provide free internet to schools across province
Interior Minister assures protection of Chinse nationals in Pakistan
Govt's wheat procurement target increased upto 1.8 metric tons
SC forms six-member bench to IHC judges'letters
PM to take part in World Economic Forum meeting in Riyadh today
Punjab Police officer Riffat Bukhari wins global award
Punjab Police Hero ASP Shehbano Naqvi’s wedding festivities spark joy
TECNO CAMON 30 Series set to launch at a grand fashion show in Karachi
Record growth being witnessed in IT exports due to SIFC’s efforts
Pakistan, Canada agree to enhance cooperation in all fields
More Stories From World
-
Tsitsipas ousted by qualifier, Swiatek coasts into last 16
42 minutes ago -
US State Dept Arabic spokesperson Hala Rharrit resigns over Gaza policy
48 minutes ago -
Hurricanes suffer first defeat, lead Super Rugby by one point
1 hour ago -
Tennis: ATP/WTA Madrid Open results -- 1st update
1 hour ago -
Pakistan Embassy in Beijing hosts Pakistan Professional and Student Forum
1 hour ago -
Tennis: ATP/WTA Madrid Open results
2 hours ago
-
Russia hits Ukrainian energy sites in 'massive' overnight attack
2 hours ago -
Estanguet emotional as Olympic torch sets sail for France
2 hours ago -
Italy summons Russian envoy over Ariston subsidiary takeover
2 hours ago -
Benin police fire tear gas to break up union protest
3 hours ago -
Estanguet emotional as Olympic torch sets sail for France
4 hours ago -
Olympic torch begins its voyage to France
4 hours ago