CBA shares are on the way up again

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Shares in the Commonwealth rose in early trade, clawing back some of the 3.8% fall on Friday following allegations of breaches of money laundering laws.

A short time ago, the shares were up 1.1% to $81.63.

The other major banks were also up, including the NAB which had added 1.3% to $30.32.

Last week Australia’s financial intelligence and regulatory agency, AUSTRAC, took the Commonwealth to the Federal Court claiming the bank breached the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act over combined cash deposits of $624.7 million.

The bank, in a statement this morning, says the issue began after an unrelated software update to Intelligent Deposit Machines, the latest ATMs, in late 2012.

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