This involves the introduction of a range of new measures to identify, mitigate and manage the risks associated with financial crime.

For example, as part of our program of action we are introducing a new aggregate daily card limit for CBA personal customers making cash deposits into our ATMs.

From 21 November, a $20,000 total daily deposit limit will apply for Commonwealth Bank customers using their personal cards at our deposit ATMs. The limit will apply regardless of the number of deposit transactions made in a day. We believe we are the first major bank to introduce card-based daily limits for cash deposits at our deposit ATMs.

This change is another important step in the management of money laundering risks. It strikes a balance between addressing our obligation and commitment to prevent financial crime and meeting our customers' legitimate banking needs.

This initiative complements our other reporting obligations, including the reporting of any suspicious transactions conducted across our network and the reporting of each and every cash deposit of $10,000 or more.

Flexibility in how and when deposits can be made is important for a range of our customers, particularly small business owners, who rely on after-hours facilities to securely deposit end of day or week takings.

This new limit may affect some customers and we are contacting them to provide information on the other options available to meet their banking needs.