Jacqui Lambie (Tasmania, Independent) Share this | Hansard source

I rise to support Senator Whish-Wilson's motion concerning AUSTRAC's action against the Commonwealth Bank of Australia—otherwise known as the CBA. The civil penalty proceedings initiated in the Federal Court against the CBA for serious and systemic noncompliance under the Anti-Money Laundering and Counter-Terrorism Financing Act 2016 shows that the CBA has become the bank of choice for terrorists and criminals. CBA should be renamed the Criminal Bank of Australia, given the more than 53,000 violations of law that have been alleged. As soon as time allows, I will be moving my personal banking out of the CBA into a local credit union. I suggest that others do the same. This is the only way the big boys at the CBA will take notice. I will not support a bank that supports terrorists.