April 19, 2016
Fears over money laundering and the risk of financing of terrorism has prompted calls for Bendigo Bank to abandon any dealings with the tiny Pacific nation of Nauru. Bendigo Bank is the only bank with a presence on the island, which Australia relies on as a crucial part of its refugee policy.
Until last year, Nauru had an entirely cash economy that used Australian dollars as the currency. Suitcases of cash were regularly ferried from Brisbane to the island to pay the salaries of local workers.