Premier Jay Weatherill calls major banks ‘money launderers to organised crime and terror groups’

PREMIER Jay Weatherill has launched an astonishing attack on Australia’s big banks, dubbing them “money launderers to organised crime and terrorist groups”.

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PREMIER Jay Weatherill has launched an astonishing attack on Australia’s big banks, dubbing them “money launderers to organised crime and terrorist groups” in response to their concerted campaign against the State Government’s bank tax.

Speaking at an energy efficiency conference on Wednesday, Mr Weatherill vowed the government would “vigorously pursue” the tax despite the Australian Bankers’ Association public relations campaign.

SA Premier Jay Weatherill has launched a new attack on the nation’s big banks. Picture: AAP Image/David Mariuz

“I mean, are we seriously going to be lectured by the banks?” Mr Weatherill said.

“The money launderers to organised crime and terrorist groups, are we seriously going to be getting lectures from them?”

The comments were a reference to last week’s announcement that the Australian Transaction Reports and Analysis Centre (AUSTRAC) was preparing to prosecute the Commonwealth Bank over 53,700 alleged contraventions of money laundering laws.

AUSTRAC alleges CommBank’s intelligent deposit machines — ATMs that accept cash and cheque deposits — were used by criminal syndicates to avoid strict money-laundering and counter-terrorism laws.

Mr Weatherill said Commonwealth Bank’s announcement of a $9.9 billion net profit proved it could afford to pay the state bank tax.

“We’re going to take $20 million of that and it’ll still be $9.98bn, are people seriously crying a river of tears for the banks?” he said.

The Premier’s comments were condemned by Opposition Leader Steven Marshall.

“Jay Weatherill is always having a go at the private sector here in South Australia and right around the country, and quite frankly we’ve had enough,” he said.

“The people of SA get their jobs from the private sector and we need a Premier who is not always having a go, taking a cheap shot at those people who are providing private sector jobs here in SA.”

Mr Marshall said the “overwhelming response” of the community was that the bank tax would be passed onto consumers, rather than the banks themselves.

Lower House debate on the tax was adjourned today and is set to resume on Thursday.