Australia's largest bank cuts CEO bonus over laundering case
The board of Australia's largest bank Commonwealth Bank of Australia has scrapped short-term bonuses for CEO Ian Narev and other senior executives. This comes after the government sued the bank for allegedly breaching money-laundering and terrorism financing laws more than 53,000 times. Narev received a $2.26 million (â¹14.38 crore) short-term bonus in the fiscal year ended June 30, 2016.