Commonwealth Bank boss Matt Comyn says Apple is free-riding on investments made by Australian banks and “unequivocally” needs more regulatory scrutiny after its entry into financial services.

Revamping his attacks on the US technology giant, Mr Comyn called for a bank-style levy on Apple and other large tech companies to level the competitive playing field. He said Macquarie was guilty of not paying its fair share for critical services such as cash distribution as well.