Assessment Questions

Read the Commonwealth Bank of Australia: The Unwitting Mule case study and answer the following questions:

1.What areas of law are pertinent to this case study? Describe what the identified areas of law cover, and explain how they are relevant to the issues raised in the case study. (9 marks)

2.What is the business structure of the Commonwealth Bank of Australia (CBA)? What does this structure say of the duties that the bank's directors owe to its stakeholders, and how have the directors breached those duties by allowing the conduct that is detailed in the case study. (9 marks)

3.Describe the regulatory responsibility of AUSTRAC in the context of this case. What changes (if any) to the scope of their responsibility were brought about by the findings of the 2018 Royal Commission into the Banking sector. (9 marks)

4.What business risks were ignored by the CBA executives, and what good governance and compliance practices could have been implemented to alleviate these risks? (9 marks)