Monday, 06 December 2021 06:23 GMT

Australia launches investigation into banking corruption


(MENAFN) The Australian royal commission has launched its investigation into corruption in banks and financial services.

Australia's leading form of public inquiry is to look into alleged illegal behavior that has been taking place in the sector, including customer exploitation and corporate fraud.

The investigation was explained by Commissioner Kenneth Hayne to look into manipulative and deceiving acts that dropped "below community standards and expectations".

The commissioner has clarified how concerns were raised after the scandals emerged, despite Australia having "one of the strongest and most stable" financial service around the globe.

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