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AAP
AAP
Derek Rose

Bendigo Bank admits poor money-laundering controls

Deloitte identified weaknesses in money laundering and counter-terrorism financing risk management. (Albert Perez/AAP PHOTOS)

Australia's fifth-largest retail bank had deficient safeguards against money-laundering in many key areas, an external review has found.

Bendigo and Adelaide Bank hired Deloitte to conduct the review after suspicious activity at one its branches apparently went undetected for six years, until August 1. 

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