Continuing scandals and revelations from the Hayne Royal Commission are further eroding the reputation of Australian big banks. Accusations of misconduct and bad behaviour have resulted in several reviews to determine whether a banks board of directors did enough to avoid failures in their risk governance. Incidences of money laundering, inadequate monitoring of small accounts sending money to the Philippines, amongst other questionable practises have led to criticism of inadequate oversight by boards. Discuss which of the ASX Governance Principles are implicated here and provide suggestions as to how the board could ensure they meet their obligations in relation to risk governance.