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Australia's NAB says regulator probing bank's compliance with anti-money laundering laws

June 7 (Reuters) - National Australia Bank said on Monday Australia’s financial crime regulator had identified serious concerns with the bank’s compliance with anti-money laundering and counter-terrorism laws.

Concerns over the bank’s “potential serious and ongoing non-compliance” with customer identification procedures, customer due diligence and compliance have been referred to AUSTRAC’s enforcement team, which has initiated a formal investigation, the lender said. (Reporting by Rashmi Ashok in Bengaluru; editing by Diane Craft)

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