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Commonwealth Bank of Australia cuts daily ATM cash deposit limit by half

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Commonwealth Bank of Australia cuts daily ATM cash deposit limit by half

Commonwealth Bank of Australia lowered its daily cash ATM deposit limit for personal and business accounts to A$10,000 as part of anti-money laundering efforts.

This will take effect April 10, the lender said in a March 8 release. The previous limit was A$20,000, The Sydney Morning Herald reported the same day.

The bank was sued by the Australian Transaction Reports and Analysis Centre, a financial regulator, for alleged violation of anti-money laundering and counterterrorism financing laws.