Commonwealth Bank released a statement, saying that it self-reported the breaches of anti-hawking legislation.
The life insurance arm of Commonwealth Bank, one of Australia's biggest banks, is facing 87 criminal charges over allegations it hawked life insurance products with unsolicited phone calls. Each charge carries a maximum penalty of AU$21,250, meaning Commonwealth Bank could face fines of up to AU$1,848,750 if all charges are proven in court. In a statement released on its website, Commonwealth Bank says that it self-reported the matter, and declined to comment further.
The life insurance arm of Commonwealth Bank, one of Australia's biggest banks, is facing 87 criminal charges over allegations it hawked life insurance products with unsolicited phone calls. Each charge carries a maximum penalty of AU$21,250, meaning Commonwealth Bank could face fines of up to AU$1,848,750 if all charges are proven in court. In a statement released on its website, Commonwealth Bank says that it self-reported the matter, and declined to comment further.
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