The Commonwealth Bank of Australia boss has warned people against jumping to conclusions after it was accused of more than 53,000 breaches of money laundering and terrorism financing laws.
"I understand there is very little goodwill for banks in general, and for CBA in particular, so when something like this happens people jump to conclusions," Ian Narev told The Australian in an article published on Monday.
The federal government's financial intelligence unit AUSTRAC last week launched civil proceedings in the Federal Court against CBA.
It's accused the bank of systemic failure to comply with anti-money laundering and counter-terrorism financing laws.
CBA said in a statement on Monday it was taking AUSTRAC's allegations seriously and admitted "mistakes can be made".
