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Commonwealth Bank head to exit amid money laundering claims

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The leader of Australia's Commonwealth Bank plans to step down amid the company's alleged breaches of anti-money laundering laws.

CEO Ian Narev will retire after leading Australia's biggest mortgage lender for six years.

Narev has been pressured to leave the company, which regulators say committed more than 53,700 breaches of anti-money laundering laws.

Read more from BBC News.

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