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Australia’s NAB has unloaded at least 40,000 customers in two years following extensive KYC review, Parliament told

By Dan Byrne for AMLi

One of Australia’s biggest banks has severed ties with tens of thousands of customers over the last two years in the name of preventing financial crime, it has emerged.

National Australia Bank (NAB) estimates that in the period from May 2019 to September 2021, it exited around 40,000 customers because of KYC issues or other problems related to fraud prevention.

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