Univ. of Canberra's Sathye Shocked by CBA Allegations

The transcript discusses an investigation into the Commonwealth Bank regarding unreported transactions exceeding a threshold, raising concerns about internal governance and the role of auditors. Legal proceedings are underway, with potential penalties reaching up to one trillion dollars. The discussion also touches on the implications for other banks like ANZ and Westpac, highlighting the broader impact on the banking industry.

What is the significance of the house track's civil proceeding against the Commonwealth Bank?

How many transactions above the threshold limit were reportedly not reported by the Commonwealth Bank?