Select Page

Random Note #187,572 — Commonwealth Bank money laundering

If the $12 million head of the Commonwealth Bank, Ian Narev and the rest of the management were more focused on there core jobs rather than preoccupied like the many other big end of town, social justice warrior corporate heads at Westpac, Qantas, The ABC, PwC etc, with their increasingly tired, cliched and totally irrelevant social engineering distractions and forays into areas like LGBTI, gay marriage, diversity, inclusion and unconscious bias etc, they might have been in a better position to be on top of the 53,700 breaches of money laundering worth north of half a billion dollars.

Back of the envelope calculations, with maximum fines at $18 million per breach indicate that the CBA could potentially be looking down the barrel of penalties of $966 Billion. Thats right, $966 BILLION. Now of course that’s not going to happen but whatever the penalty it’ll be a big hit to the CBA’s reputation, it’s bottom line an share price and for ordinary Australians superannuation and a big price to pay for such totally frivolous indulgences.