4
Aug 2017

Bank will have 50,000 excuses - tell it to a Royal Commission

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KAP Federal Member for Kennedy Bob Katter has challenged Federal Government politicians to support his legislation for a Royal Commission into the banks when Parliament returns next week – or face up to Australians on why they won’t – following allegations of more than 50,000 breaches of anti-money laundering laws by the Commonwealth Bank.

“The banks will claim ‘aah, we didn’t know’ – but an entry level clerk in the public service could have seen this happening,” said Mr Katter regarding Federal Court action against the bank for failing to report alleged money laundering transactions that financed illegal activities such drug importation and terrorism.

“Millions of dollars in the bank’s account and nobody knows? That’s a bigger whopper than a Hungry Jack’s hamburger.”

Mr Katter blamed politicians who refused to crack down on the big banks for being complicit in endangering Australians.

“The people to blame for terrorism in this country are the people in Canberra on $230,000 pay packets who are the most spineless, cowardly wonders. Every one of these invisible bludgerigars would know 100 people who have suffered so unfairly at the hands of the banks. Yet all they’re concerned with is their Liberal-National Party endorsements.

“The Catholic priest in the greater Longreach area said there were 42 farms being foreclosed on – station properties belonging to families. The now-famous Charlie Phillott, twice on 60 Minutes, named 13 properties in his area of Winton being foreclosed on. I knew of eight in the area south of Hughenden and Richmond, the Muttaburra and Aramac area.”

Mr Katter introduced the People of Australia’s Commission of Inquiry (Banking and Financial Services) Bill 2017 into Parliament in March. The Bill has the full powers of a Royal Commission, plus additional protections for whistleblowers.

“I doubt whether there would be 5 per cent of this country who’d say a Royal Commission into the banks is not needed,” he said. “Everyone else agrees except the Liberal Party. But their isolation is now standing out like a neon light, and the cowardice of those people who have not yet advocated it – who cannot be found when it’s put to the Parliament – they’ll be hiding in the toilets.”

Mr Katter said 37 inquiries in the past seven years had achieved absolutely nothing – “except for the last inquiry, in which each of the heads of the banks have said, ‘Oh we’ve been so guilty, we’ve got to do things right in future’.”

“They admitted their guilt but we haven’t destroyed the problem. From my experience in Queensland, once the spotlight of public opinion through a Royal Commission of Inquiry turned upon police corruption in that state, we were able to destroy it. And we would not have been able to destroy it otherwise.”

Mr Katter said it would only take one more MP to cross the floor against the LNP Government in the finely-balanced House of Representatives to secure the People of Australia’s Commission of Inquiry into Banking and Financial Services, following public support for Mr Katter’s Bill from the Member for Dawson.

“We must all note the courage and intellectual integrity of some, and the cowardice of others,” said Mr Katter.

#ENDS#

Contact Details

Innisfail
P: (07) 4061 6066
F: (07) 4061 6566
Visit: Cnr Edith and Owen St
Post: PO Box 1638
Innisfail, Qld 4860

Mount Isa
P: (07) 4743 3534
F: (07) 4743 0189
Visit: 42-44 Simpson St
Post: PO Box 2130
Mount Isa, Qld 4825

Canberra
(when Parliament is sitting)
P: (02) 6277 4978
F: (02) 6277 8558

Local Call within the electorate
P: 1300 301 942

Email: Bob.Katter.MP@aph.gov.au