Univ. of Canberra's Sathye Shocked by CBA Allegations

The transcript discusses an investigation into the Commonwealth Bank regarding unreported transactions exceeding a threshold, raising concerns about internal governance and the role of auditors. Legal proceedings are underway, with potential penalties reaching up to one trillion dollars. The discussion also touches on the implications for other banks like ANZ and Westpac, highlighting the broader impact on the banking industry.

What was the initial reaction of the speaker to the investigation into the Commonwealth Bank?

• Amusement

• Excitement

• Indifference

• Shock and horror

What is the main reason for the civil proceedings against the Commonwealth Bank?

• Tax evasion

• Involvement in a Ponzi scheme

• Misleading advertising

• Failure to report transactions above a threshold

What is the potential maximum penalty that could be imposed on the Commonwealth Bank?

• One hundred thousand

• One million

• One trillion

• One billion

Which other banks are mentioned as potentially being involved in similar activities?

• ANZ and Westpac

• Citibank and Barclays

• Bank of America and Wells Fargo

• NAB and HSBC

What is the current status of the other banks mentioned in relation to the investigation?

• They have been fined

• Their involvement is uncertain

• They are under investigation

• They have been cleared of all allegations