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.
