The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry revealed some wicked problems including: money laundering for drug syndicates, turning a blind eye to funding terrorism and child exploitation and charging customers fees for services that were never provided.
Following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry, six of Australia’s largest banks have paid or offered $3.15B in compensation for wrongdoing. But the biggest challenge facing the banking & finance sector is earning back the community’s trust.
There can be no doubt that the primary responsibility for misconduct in the financial services industry lies with the entities concerned and those who managed and controlled those entities: their boards and senior management.
Explore our library of resources and learn how to build a better culture.
