Money Laundering Scandal at Australia’s Largest Bank Triggers Another Call for Ban of Cash

MISH TALK–Ian Narev, the CEO of Commonwealth Bank of Australia (CBA), the nation’s largest bank is set to step down amid money laundering charges.

Money laundering is big business in Australia because regulations do not cover lawyers, real estate agents, accountants, and CEOs ignoring warnings from police.

Despite the obvious problem, it’s cash itself that gets the blame.

There are several stories here buts let’s start with Australia’s Biggest Bank Says CEO Will Retire Amid Money-Laundering Scandal.

Commonwealth Bank of Australia Chief Executive Officer Ian Narev will step down by the end of June 2018 as the nation’s largest lender seeks to mitigate the fallout from a money-laundering scandal.

Pressure is building on Commonwealth Bank amid allegations by the nation’s financial crimes agency that drug syndicates used its network of deposit machines to launder cash, despite warnings from police. The nation’s securities regulator opened its own inquiry last week and the governor of the central bank called for accountability in the banking industry, which is beset by a string of scandals.

Narev, 50, has presided over a market-topping stock price since he took the helm at the start of December 2011. Last week, he delivered the lender’s eighth consecutive record profit.

His achievements have been overshadowed by the money-laundering allegations — the third major public-relations scandal he has faced as CEO. The bank has paid A$29 million ($23 million) in compensation to customers who were allegedly given poor financial advice, and has faced accusations it wrongly failed to honor insurance claims to sick clients.

The financial crime agency, Austrac, alleges that Commonwealth Bank failed to report either on time or at all suspicious transactions through its network of automated cash deposit machines totaling more than A$624 million, and it failed to monitor the activities of drug syndicates even after being alerted by police. The bank has blamed most of the breaches on a software coding error which has since been fixed.

The allegations are the latest in a series of scandals in Australia’s banking industry, ranging from giving poor advice to wealth-management customers to allegations the nation’s three other biggest banks manipulated a benchmark swap rate.

Moral of the Story

With share prices high after three scandals, the moral of the story must be CEO crimes pay. What other lesson could there possibly be?

Australia a ‘Place of Choice’ for Money Laundering

Please consider Australia a ‘place of choice’ for money laundering due to lack of regulation.

Australia’s hot property market is an attractive haven for criminals, with estimates that billions of dollars of dirty money is being laundered through residential property.

Australia’s anti-money laundering law does not cover real estate agents, lawyers and accountants, despite promises when the law was enacted in 2006 that the legislation would be widened.

ANZ’s head of financial crime, Guy Boyd, is scathing of the failure of subsequent governments to extend the legislation.

Australia’s housing market has been targeted by money launderers from countries including Papua New Guinea, Malaysia and China.

Let’s Blame Money Itself

Given than scandals provide perfect cover to place the blame on innocent people and innocent things, no one should be surprised by this outcome: CBA Scandal Blamed on ‘Outdated’ Banknotes.

The Commonwealth Bank money-laundering scandal has given ammunition to the anti-cash crusade, with one analyst asking whether “outdated” $100 and $50 notes are the “root of the problem”.

The nation’s largest bank is facing allegations of more than 53,000 breaches of anti-money laundering and counter-terrorism financing laws, the majority relating to large cash deposits made at CommBank ATMs.

In a note earlier this month, UBS analyst Jonathan Mott said the CommBank scandal raised “four critical questions”.

“Is the root of the problem the outdated high denomination cash notes?” he wrote. “Should Australia move to phase out cash given its role in the black economy (including: proceeds of crime, money laundering, tax avoidance, welfare fraud)?”

RELATED: 10 Simple Ways Lemons Can Fix Your Health

Synopsis

  1. The CEO of CBA, Ian Narev, has been involved in three major scandals.
  2. Large, suspicious real estate transactions went through without a hitch.
  3. Large, repetitive, cash deposits at ATMs raised no red flags.
  4. Narev was warned by police that the ATMs were used for money laundering.
  5. The CBA ignored 53,000 breaches of anti-money laundering and counter-terrorism financing laws.
  6. People are asking if the root of the problem is outdated high denomination cash notes.

War on Cash – How Twisted Minds Function

The Black Economy Taskforce’s final report is due in October. Gee, I can hardly wait.

Meanwhile, please consider War on Cash Proposals in Australia: Microchip Expiring $100 Bills, Forcing People to Keep Receipts

In an unrelated nonsensical idea from down under, also consider How Twisted Minds Function.

P/C williamnyk

Source Article from http://www.wealthydebates.com/money-laundering-scandal-at-australias-largest-bank-triggers-another-call-for-ban-of-cash/#new_tab

New Zealand to consider N. Korea action ‘on its merits’ even if Australia sticks by US

“We’re focused on peaceful resolution of these tensions,” New Zealand Prime Minister Bill English told reporters on Friday, as cited by SkyNews Australia. “If there was any military action at all we would consider our contribution on its merits.” 

English stressed that New Zealand would not automatically follow Australia’s lead, adding: “We’re in close contact with the US and Australia but any decision New Zealand makes about North Korea we make according to our own interests.”

Also on Friday, New Zealand’s foreign minister, Gerry Brownlee, signaled it is crucial for his country to exercise caution. “Committing to an aggressive response now – while encouraging all involved to avoid escalation – is not a position we want to take,” the minister said, according to local media.

Brownlee stressed that if an armed conflict were to break out, the island nation would assess suitable options in due time. “Australia is our only formal ally and if the situation did develop into armed conflict we would assess our options at the time,” he told Sky News in a statement.

The statements from Wellington came shortly after Australia – New Zealand’s neighbor and long-standing military ally – said it would invoke a mutual defense pact (ANZUS) in the event of a North Korean attack on American forces in the Asia-Pacific.

“America stands by its allies, including Australia of course, and we stand by the US,” Prime Minister Malcolm Turnbull told Australian radio earlier on Friday. “The United States has no stronger ally than Australia. We have an ANZUS agreement and if there is an attack on Australia or the United States … each of us will come to the other’s aid,” Turnbull added

The ANZUS collective security treaty – signed in 1951 by Australia, the US and New Zealand – stipulates that its signatories should “act to meet the common danger.” In the 1980s, New Zealand banned all nuclear-armed vessels, including American ones, from docking in its ports. In response, the US suspended its treaty obligations to New Zealand in 1986, and reduced the two countries’ military ties.

Mutual defense obligations under the ANZUS Treaty still remain in place between the US and Australia, despite the trilateral aspects of the agreement having been stalled, according to the US State Department. 

Earlier this week, the Korean Peninsula saw a flare-up in tensions between Pyongyang and Washington. President Donald Trump resorted to open threats to North Korea by urging it to stop bellicose rhetoric against Washington. “North Korea best not make any more threats to the US. They will be met with fire and fury like the world has never seen,” Trump said on Tuesday.

North Korea’s military said in a reciprocal statement – delivered through the state-run news agency KCNA – that it is planning on a devastating strike against the US airbase in Guam, supposedly within reach of Pyongyang’s long-range missiles. The Pentagon, according to multiple media reports, is considering using its strategic B-1 bombers as the main game changer in the event of war.

Late on Thursday, Trump said North Korea should “get their act together” or it will “be in trouble like few nations have ever been,” according to AP. North Korea should be “very, very nervous” if it does anything to the US, the American president added.

“Let’s see what he [Kim Jong-un] does with Guam,” Trump said in a combative remark. “[If] he does something in Guam, it will be an event the likes of which nobody has seen before – what will happen in North Korea.”

Prime Minister English said earlier this week he was worried by incendiary statements from Washington. “I think the comments are not helpful, and in an environment at the moment that is very tense,” he said, as cited by the New Zealand Herald. 

“Everyone wants to avoid military confrontation, and the path ahead there is for North Korea to comply with the UN sanctions and for international pressure to push them in that direction,” he added.

The United States and New Zealand have fought together in a number of conflicts, including in World War II, the Korean War, the Vietnam War, the Gulf War, and, most recently, in Afghanistan.

Source Article from https://www.rt.com/news/399311-new-zealand-north-korea/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

China to establish intercontinental ‘hack-proof’ quantum links with Australia, Europe

China is a pioneering nation in bringing quantum cryptography into Earth’s orbit with its Quantum Experiments at Space Scale (QUESS) satellite, which it launched almost a year ago. QUESS, also dubbed Micius after an ancient Chinese philosopher, is a proof-of-concept project, which demonstrated that quantum communication is possible over a distance of over a thousand kilometers.

The mission is planned to last at least two years, and Chinese scientists are planning for both new experiments with QUESS and future launches of better quantum communication satellites, Xinhua news agency reported on Thursday.

By the end of August, the satellite will be used to establish quantum communication across continents, linking China with a ground station in Graz, Austria, told the agency Pan Jianwei, lead scientist of QUESS and an academician of the Chinese Academy of Sciences.

Further experiments this year will evolve ground stations in Germany and Italy, Pan added, bringing the project closer to the planned Asian-European secure communication network. They are to confirm the compatibility of the equipment used by Chinese scientists with that used by other nations, he said.

China hopes that the technology would eventually allow for a global quantum communication network with a constellation of satellites providing the service. This however will require overcoming many limitations it currently has, Chief Commander of QUESS Wang Jianyu told Xinhua.

For instance, the current satellite can only establish a quantum link with the ground when there is no interference from the Sun, i.e. when the spacecraft is in Earth’s shadow. Only after this limitation is dealt with can satellites be placed on more practical higher orbits or work in constellations, he said.

“When Micius flies over China, the experiment window is about 10 minutes,” said Wang. “But if we have a satellite in orbit at 10,000km, the time for quantum key distribution could be several hours. And if we have a satellite in orbit at 36,000km, it can cover a third of the Earth all the time.”

“To increase the coverage, we plan to send satellites to higher orbits and construct a satellite constellation, which requires developing many new pieces of technology,” he said.

Quantum cryptography utilizes quantum effects to secure a line of communication. QUESS uses a technique called quantum key distribution, which ensures that any attempt of a third party to gain knowledge of a key used to encrypt and decrypt messages would be noticed by the communicating parties, because the act of measuring a quantum system inevitably alters it.

The satellite generates secret keys and sends them to two ground stations via entangled pairs of photons, where they are used to establish secure communication between the two locations.

Source Article from https://www.rt.com/news/399185-china-intercontinental-quantum-communication/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Australia ‘weather-experts’ Falsify Climate Change









 







“Global warming is a non-problem…I say this to Obama: Excuse me, Mr. President, but you’re wrong. Dead wrong.” (Dr. Ivar Giaever, Nobel-Prize winner in physics)

“The computer models just weren’t reliable. In fact, I’m not sure the whole thing isn’t crazy, this climate change.” (Green Guru James Lovelock, who once predicted imminent destruction of the planet via global warming)

I’ve written a number of articles proving the global warming science is far from “settled.” I’ve also written about the political agenda behind climate change. It is stark:

All nations will be ordered (if treaties are signed) to REDUCE THEIR OVERALL ENERGY PRODUCTION BY A DISASTROUS AMOUNT.

Therefore, the output of carbon dioxide would be cut, and, we are told, “the planet could be saved.”

But no replacement of carbon-based fuels with solar, wind, and other popular alternative sources could possibly, given present technology, make up the difference and stave off the catastrophe stemming from a major cut in planetary energy production.

National economies would falter, poverty would deepen, chaos would expand, and in the ensuing crisis, the (Globalist) forces of order would move in and “solve the problem.” Also known as: a takeover of all major institutions of government, worldwide.

Now have a new scandal erupting, on top of a whole pile of prior scientific frauds. As The Daily Caller reports:

“Australian scientists at the Bureau of Meteorology (BOM) ordered a review of temperature recording instruments after the government agency was caught tampering with temperature logs in several locations.”

“Agency officials admit that the problem with instruments recording low temperatures likely happened in several locations throughout Australia, but they refuse to admit to manipulating temperature readings. The BOM located missing logs in Goulburn and the Snow Mountains, both of which are in New South Wales.”

Let’s be clear. The missing and altered temperature readings actually indicated lower-than-normal temperatures which, if reported, would weaken the assertion that Australia is getting hotter.

The Daily Caller continues: “BOM [Australian Bureau of Meteorology] has been put under the microscope before for similar manipulations. The agency was accused in 2014 of tampering with the country’s temperature record to make it appear as if temperatures had warmed over the decades, according to reports in August 2014.”

“[Biologist and former director of the environmental unit at the Australian Institute of Public Affairs, Jennifer] Marohasey claimed at the time that BOM’s adjusted temperature records are ‘propaganda’ and not science. She analyzed raw temperature data from places across Australia, compared them to BOM data, and found the agency’s data created an artificial warming trend.”

“Marohasey said BOM adjustments changed Aussie temperature records from a slight cooling trend to one of ‘dramatic warming’ over the past century.”

But don’t worry.

The science is settled.

There must be no reasoned debate about the subject. Just start lowering the energy outputs of all countries on the planet.

Certainly don’t listen to a man like Freeman Dyson, who has no mainstream credentials—except for the following: physicist and mathematician, professor emeritus at Princeton’s Institute for Advanced Study, Fellow of the Royal Society, winner of the Lorentz Medal, the Max Planck Medal, the Fermi Award. Dyson states:

“What has happened in the past 10 years is that the discrepancies [in climate change models] between what’s observed and what’s predicted have become much stronger. It’s clear now the [climate change] models are wrong, but it wasn’t so clear 10 years ago… I’m 100 per cent Democrat myself, and I like Obama. But he took the wrong side on this [climate change] issue, and the Republicans took the right side…”

Pay no attention to that.

Shut your eyes, close your mouth, and wait for the lights to dim.

The people in charge are the people in charge, and if they don’t want debate, they must be right.

Censoring debate is always a sign that truth and justice are winning.

Right?

Several unhinged commentators have gone so far as to suggest jail time for scientists who deny the existence of manmade warming. Marc Morano, narrator and co-writer of the documentary, Climate Hustle, asked the popular American TV host, Bill Nye “The Science Guy,” whether he thought such jail threats against scientists would have “a chilling effect” on dissent.

Nye answered, “That there is a chilling effect on scientists who are in extreme doubt about climate change — I think is good.”

In other words, love censorship when it silences your opponents.

Bill Nye understands the proper method of science and research (experiment, replication, rejection, debate, questioning) the way a cockroach understands Aristotle’s treatises on logic.

Make no mistake about it, we are looking at fake climate science. The purveyors don’t care about truth. They only care about owning the bully pulpit and keeping dissenters away from that pulpit.

This is how official science is done. In the case of climate change, claim the planet is warming and claim the debate about the subject must be cooled until it is frozen and stored in a locker out of view.

In my investigations of official science and medicine over the past 35 years, I’ve seen this strategy deployed time and time again:

“The science is settled…” “The evidence is overwhelming…” “Credible researchers all agree…”

This is how the press creates a fake impression of consensus.

News outlets issue identical stories, inventing an echo chamber.

Don’t buy in.

Crack the illusion.

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Australia used to be home to giant flying turkeys the size of kangaroos

Image: Australia used to be home to giant flying turkeys the size of kangaroos

(Natural News)
Australian researchers have recently discovered five species of giant birds, towering as tall as kangaroos, that once roamed the continent. As part of research, a team of paleontologists from Flinders University in South Australia examined megapode fossils from Queensland, New South Wales, South Australia and Western Australia and concurred that the specimens belong to five different species of giant birds: Garrdimalga mcnamaraiProgura gallinacea and P. campestris as well as Latagallina naracoortensis and L. olsoni.

It was initially believed that the megapode fossils, which were first discovered in the 1880s, belonged to a single specie of ancient bird. However, a series of examinations confirmed that the specimens represented five distinct species. According to the researchers, the birds lived during the Pleistocene between five million and 11,000 years ago, around the same time when Australia’s giant extinct marsupials such as diprotodons, marsupial lions, and short-faced kangaroos walked the continent. The researchers also noted that the giant bird were a distant relative to today’s malleefowl and brush-turkeys.

“These findings are important because they help us to understand our modern ecology. It has generally been thought that while Australia’s giant “ice age” marsupials were going extinct at a rate of knots, birds sailed through the Pleistocene relatively unscathed. We found that megapodes were once much more diverse than was previously realised, and that more than half of species went extinct during the Pleistocene. The species we have left are the ones that withstood extinctions pressures. Working out what those pressures were will help us to predict which living species are most at risk of extinction in the future and what we need to do to protect them,”  lead research Elen Shute told Dailymail.co.uk.

“Given several of the largest birds to have lived in Australia in recent times have escaped detection in the fossil record until now, our research shows how little we know of Australia’s immediate pre-human avifauna. Probably many smaller extinct species also await discovery by paleontologists,” co-author Dr. Trevor Worthy said in a separate article on Sci-News.com.

Here’s the catch: These giant turkeys can fly

According to the research team, the largest of these ancient birds was the Progura gallinacea, which had an estimated mass of 7.7 kilograms. On the other hand Progura campestris and Latagallina naracoortensis each had and estimated mass of 6.2 kg and 5.2 kg, respectively. In addition, Garrdimalga mcnamarai had an approximate weight of 5.2 kg, while the relatively lighter Latagallina olsoni had a projected mass of only 2.9 kg.

The researchers also noted that Progura gallinacea had long, slender legs. In contrast, Latagallina naracoortensis and L. olsoni had shorter legs and broad bodies. Researchers said it was highly likely that none of the giant birds built mounds as oppose to their living relatives. According to the experts, the giant megapodes did not have large feet and specialized claws required for building mounds.

It was also likely that the ancient birds buried their eggs in warm soil or sand as seen in some species in Indonesia and the Pacific. However, the researchers noted that contrary to their modern, flightless relatives, the giant birds’ long and strong wing bones suggested that they were once capable of flight and might have roosted on trees.

Sources include:

DailyMail.co.uk

Sci-News.com

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Source Article from http://www.naturalnews.com/2017-08-01-australia-used-to-be-home-to-giant-flying-turkeys-the-size-of-kangaroos.html

Australia: 16th Muslim Terror Plot Averted as 4 Lebanese Arrested









 







Four Lebanese Muslims living in Australia have been arrested after plotting to kill all the passengers on an a international flight out of Sydney using a homemade bomb disguised as a kitchen mincer. This is the sixteenth such Muslim terrorist attack to have been averted in Australia since 2014—all the result of the Australian government’s promotion of mass Third World immigration.

According to the Sydney Daily Telegraph, the latest incident saw four Muslims being arrested before they carried out a plan to carry a device on board a commercial flight from Sydney.

It said the idea was to use wood scrapings and explosive material inside a piece of kitchen equipment such as a mincing machine.

The Australian newspaper that the Lebanese were intending to use a kitchen mincer to help conceal an “improvised gas-based”­device. It is understood the device, which may have expelled gas or exploded, could have been concealed in the hollow base of a mincer.

Travel documentation and handwritten notes were among items seized from the properties raided at the weekend, suggesting the men may have been preparing to book tickets.

The Australian Broadcasting Corporation (AB) reported that the Muslims had previously tried to board an international flight but had failed, causing them to change their target to a domestic flight.

Until their arrest, they were “totally unknown” to the nation’s counter-terrorism authorities with only one conviction for negligent driving between them.

Police reportedly acted after receiving information from an overseas intelligence agency, and that the Muslims were being directed by ISIS in Syria or Iraq.

One of the detained Muslims, Khaled Merhi, is related to another former resident of Sydney, Ahmed Merhi, a notorious Islamic State fighter who travelled to Syria in 2014.

According to the ABC, the alleged ringleader appeared to be Khaled Khayat, whose brother is reportedly in Syria with Islamic State. Khayat used to run a meat wholesale business but it was deregistered in 2010. The other two arrested Muslims were named in media reports as Abdul Merhi and Mahmoud Khayat.

Australia would have experienced 15 terror attacks including public beheadings on home soil over the past three years if most plots in their advanced stages hadn’t been foiled, according to police.

Among the alleged “imminent” terror plots foiled by police in the last two years were advanced plans to kidnap members of the public in Sydney and Brisbane then behead them on camera and release the footage; detonate bombs at a Mother’s Day running event; stab and shoot police and members of the public at Anzac Day ceremonies; and target government buildings including the Garden Island Navy base and Parramatta Court House.

Before this weekend’s raids in Sydney, the most recent plot to be thwarted in NSW allegedly involved two 16-year-old boys who purchased knives and were en route to behead a stranger in Sydney’s Bankstown before they were arrested.

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Muslim Psychologist Demands Sharia Law In Australia

In the latest bit of insanity from the left-wing, a Muslim psychologist has claimed that people who oppose Sharia law are “bigots,” and that the nation of Australia ought to allow Muslims to make their own laws and get special treatment from the government. Really?

It should be easy to agree that when you move to a foreign nation, you are agreeing to follow their laws. But apparently to some, this is now a topic open for debate.

In a massive rant on Facebook, Muslim psychologist Hanan Dover declared that having only one rule of law for all Australians was “BS,” demanding “Islamic law for Muslims.”

She went on to proclaim, “’Religious groups can engage the laws and negotiate change in Australia whatever your religious schtick. But, only one of those religious laws creates political and media hysteria because it suits political fear-mongering and that’s pretty obvious – Islam.”

Perhaps that’s because under Sharia law, women are treated like less than human—and non-Muslims get a target on their backs. As sources report, Sharia law imposes death as a reasonable punishment for any number of offenses, women who do not wear hijabs can be raped by Muslim men at will and theft is punished by chopping off hands—just to name a few. These are not minute differences in culture; these are laws that violate human rights and simply cannot be upheld in a society where women are actually seen as human. Under Sharia law, non-Muslim women can be raped with no recourse—where is the logic in that? Under this archaic rule, a woman is worth less than a man and any society that purports to value women simply should not condone or allow for such laws.

In Dover’s rant, she referred to a recent court case where a Rabbi in Australia argued he was wrongfully dismissed from his synagogue. The Australian courts found that proper Jewish laws regarding how a Rabbi is dismissed had not been followed. This instance is a world away from making special exceptions for Sharia law (under which non-Muslims, women and homosexuals can be victimized).

While Australian law may ban the government from prohibiting “free exercise of any religion,” the fact remains that many aspects of Sharia law violate other laws. The bottom line here is simple: Sharia law should not be allowed—and certainly should not supersede a nation’s own laws. How hard is that to understand?

Source:

conservativecountry.net

Founder of WorldTruth.Tv Eddie (13222 Posts)

Eddie is the founder and owner of www.WorldTruth.TV. This website is dedicated to educating and informing people with articles on powerful and concealed information from around the globe. I have spent the last 38 years researching Bible, History, Alternative Health, Secret Societies, Symbolism and many other topics that are not reported by mainstream media.

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