Commonwealth Bank (CBA) share price drops as AUSTRAC eyes suspected $1bn mortgage fraud
Commonwealth Bank shares fell 1.9% to A$173.87 Friday after reports AUSTRAC is probing whether suspected fraudulent home loans were used for money laundering. The bank had self-reported about A$1 billion in suspect loans. The S&P/ASX 200 closed at a record high, leaving CBA as a rare laggard. AUSTRAC, ASIC, and the bank declined to comment.