2026-02-28 00:46:37

CommBank found $1 billion in home loans obtained using AI generated fake documents.

They self reported to NSW police, and then to ASIC.
Now our money laundering watchdog has opened its own investigation
Here’s what we know:
- they used stolen identity data + AI to generate fake payslips, passports, financials
- ran it through mortgage brokers (80% of aussie loans go through brokers)
- first whistleblower flagged it internally in Feb 2025, then more followed. CBA didn’t catch it themselves
- NAB was hit for $150M last year by an organised crime syndicate. This is 6x that
- CBA holds $634B in home loans (roughly 25% of every mortgage in Australia)
The loans are being repaid and properties exist as collateral, so this isn’t existential for the bank.
Watchdog involvement suggests someone may have been using these properties to wash money
CBA also invested in Anthropic in March 2025 and partnered with OpenAI in August.
They’re fighting AI fraud while building AI infrastructure

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