SYDNEY, Aug 3 (Reuters) - Australia's anti money-laundering regulator said on Thursday it launched civil legal proceedings against the Commonwealth Bank of Australia CBA.AX for breaches of money-laundering and counter-terrorism financing rules.
The bank, Australia's biggest mortgage lender, failed to report suspicious matters "either on time or at all involving transactions totalling over A$77 million ($61 million)", the regulator, AUSTRAC, said in a statement.
Commonwealth Bank, in a statement on its website, said it was reviewing the nature of the proceedings and would have more to say on the specific claims "in due course". ($1 = 1.2617 Australian dollars)