If you’re one of CommBank’s 17 million customers, don’t panic. But given how well AI can now fake documents, all banks will need to rethink their security.
Articles on CBA
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It seems ASIC and the Director of Public Prosecutions will have no lack of evidence to pursue civil penalties and criminal cases. The bigger issue is what charges to go with.
The Financial Services Royal Commission can ask the banks for the material it wants, in the form it wants.
CBA’s risk management strategy clearly states that responsibility rests with the board of the bank for any wrongdoing.
Research shows that cash bonuses are responsible for many recent financial scandals. The alternative isn’t that great either.
The CBA’s response to AUSTRAC’s claims means shareholders will be assisted in part of their class action claims, but a lot still needs to be proved.
One scandal at the CBA stands out above all others, It set the scene for how the CBA board would handle future scandals, that is to obfuscate, prevaricate and litigate.
Without clear support for whistleblowers in the terms of reference for the inquiry into CBA’s corporate governance, the conclusions will inevitably be tainted.
The APRA inquiry puts the regulator in the tricky position of trying to be seen to be tough on bank scandals but juggling its close relationship with the government and the CBA.
A new lawsuit against the CBA puts climate change in a new legal light: a financial hazard. The case opens up fresh lines of attack on institutions that contribute to climate change.
The Australian public may be vulnerable to crime and terrorism directly funded through the Australian banking system.
The new levy on banks from the budget is a small hit to their profit but it could have unintended consequences.
Studies have shown that shame can motivate people to be both helpful but also vengeful, so the verdict is still out on whether it curbs bad behaviour.
Despite a media statement announcing that Commonwealth Bank of Australia (CBA) and Queensland Treasury Corporation (QTC) have created the first government bond using the blockchain (dubbed the “cryptobond…
The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
An ASIC report detailing how financial advice was paid for but not given by Australia’s big four banks exposes a culture problem that the government needs to deal with.
When the cash rate increases, lending rates shoot up like rockets, but when the opposite occurs they go down like feathers.
To boost competition in banking we should give consumers better access to data and account number portability.
The universal reform of the banking system will take more than another inquiry.
Australia’s big four banks are managing risk well, this could be contributing to their strong performance.
Top contributors
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Professor, UTS Business, University of Technology Sydney
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Emeritus Professor of Finance, The University of Melbourne
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Professor of Business and Society, University of Technology Sydney
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Professor of Law, UNSW
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Senior Lecturer, Graduate School of Business and Law, RMIT University
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Senior Lecturer of Management and Leadership, The University of Melbourne
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Professor of Law, Adelaide University
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Senior Lecturer, Faculty of Law, University of Wollongong
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Professor of Economics, Swinburne University of Technology
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Associate Professor, Monash University
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Professor Allan Fels, Professor of Law, Economics and Business at the University of Melbourne and Monash University., The University of Melbourne
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Senior Research Associate in Media and Communications, University of Sydney
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Senior Lecturer, School of Business, Western Sydney University
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Professor of Law, The University of Melbourne