ASB fined $6.7m for anti-money laundering breaches
It is the biggest penalty ever imposed under the AML/CFT Act.
CEO Vittoria Shortt has apologised for the bank's shortcomings.
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Australian-owned ASB Bank has been ordered to pay a penalty of $6.7 million after seven breaches of anti-money laundering legislation.
It marked the largest penalty imposed by the High Court under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.
The Reserve Bank
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