Money Laundering Scandal at Australia’s Largest Bank Triggers Another Call for Ban of Cash

Mish Talk:

Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges.

Money laundering is big business in Australia because regulations do not cover lawyers, real estate agents, accountants, and CEOs ignoring warnings from police.

Despite the obvious problem, it’s cash itself that gets the blame.

There are several stories here buts let’s start with Australia’s Biggest Bank Says CEO Will Retire Amid Money-Laundering Scandal.

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