Commbank criticised over demands for financial information
SQM Research managing director Louis Christopher has criticised Commbank after it threatened to shut off his accounts unless he complied with "Orwelian" requests about his financial information.
Mr Christopher took to social media on Tuesday to express his disgust with an email sent to him by the major bank, demanding to know how he acquired his wealth, why he had made transactions to certain parties, why he had made cash withdrawals, and whether he kept any cash at home.
CBA said his accounts would be suspended this week if he failed to hand over the information.
'This is a security risk for me and my family,' Mr Christopher told Sky News Australia.
'Effectively, I felt like I had a gun held to my head, if I didn't answer these questions correctly.
'I've had thousands of responses … of people who have had their accounts frozen over this.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
an hour ago
- News.com.au
Closing Bell: ASX slides 0.25pc, pushed lower by tech and gold stocks
ASX falls on broad weakness with 8 of 11 sectors down The Info Tech sector and gold stocks lead market falls Only Energy (+0.59%), Industrials (+0.28%) and Materials (+0.02%) moved higher There were some glimmers of optimism in early trade today, but it wasn't to last. The ASX has finished down 0.27%, with all but three sectors moving lower. Energy was the bright spot once again, gaining 0.59% on the back of a 0.7% uptick in oil prices overnight. Another softening in the gold price dragged gold stocks lower, with the All Ords Gold index sliding almost 2%. There was also weakness in the Info Tech sector and the seven major banking stocks, down 0.89% and 0.48% respectively. While news the US and China are making progress on their trade talks would normally have boosted the market, the escalating fight between Trump and Musk seems to have undercut those gains, giving investors enough reason to play it safe. Here's hoping next week brings better news. The Aussie bourse closed the week in the positive for the last five trading days despite the slide today, adding 0.96% this week. We've moved a little further from a new all-time high, but still well in range just 1.15% below previous records. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap BMO Bastion Minerals 0.003 100% 1.24E+08 $1,355,441 CZN Corazon Ltd 0.003 100% 21386226 $1,776,858 MGU Magnum Mining & Exp 0.006 71% 2789927 $3,925,778 AXI Axiom Properties 0.029 61% 432568 $7,788,846 WC1 Westcobarmetals 0.023 53% 44802253 $3,110,692 AOK Australian Oil. 0.003 50% 10016926 $2,003,566 EM2 Eagle Mountain 0.006 50% 4381331 $4,540,149 GMN Gold Mountain Ltd 0.002 33% 1223628 $8,429,639 QXR Qx Resources Limited 0.004 33% 1583144 $3,930,987 SP8 Streamplay Studio 0.008 33% 4300905 $7,688,187 IS3 I Synergy Group Ltd 0.004 33% 154270 $1,502,290 NWM Norwest Minerals 0.013 30% 9786550 $9,683,586 CBL Control Bionics 0.035 25% 335944 $8,249,111 AAU Antilles Gold Ltd 0.005 25% 5439686 $8,605,471 EVR Ev Resources Ltd 0.005 25% 119999 $7,943,347 PIL Peppermint Inv Ltd 0.0025 25% 534955 $4,552,180 BYH Bryah Resources Ltd 0.016 23% 26696325 $11,309,396 DVL Dorsavi Ltd 0.016 23% 9974592 $9,506,093 ASM Ausstratmaterials 0.62 22% 1730971 $92,030,396 BDM Burgundy D Mines Ltd 0.0255 21% 1484931 $29,847,978 IR1 Irismetals 0.12 21% 54323 $17,073,479 TKM Trek Metals Ltd 0.076 21% 3676309 $36,963,540 H2G Greenhy2 Limited 0.018 20% 2197725 $8,972,763 PFT Pure Foods Tas Ltd 0.018 20% 16882 $2,031,384 GPR Geopacific Resources 0.024 20% 3388428 $63,649,307 Making news… West Cobar Metals (ASX:WC1) has completed the 100% acquisition of the Mystique gold project from IGO in WA's Fraser Range. The project sits just south of Rumble's Themis prospect, where standout gold hits include 4m at 22.2g/t. Drilling is now being planned at two key targets – Themis South and Torquata – to test for saprolite and basement gold. Australian Strategic Materials (ASX:ASM) is gaining momentum at its Korean Metals Plant, locking in new sales of rare earth metals and alloys as global buyers look for supply outside China. ASM has confirmed orders for a neodymium-iron-boron alloy to Noveon Magnetics in the US (15 tonnes) and Germany's Vacuumschmelze (7.2 tonnes), with first shipments kicking off in June. Bastion Minerals (ASX:BMO) elected to go into a trading halt ahead of the release of a maiden JORC mineral resource estimate for the ICE project in Canada. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap JAY Jayride Group 0.001 -50% 907361 $2,855,778 OB1 Orbminco Limited 0.001 -33% 100000 $4,796,352 TEG Triangle Energy Ltd 0.002 -33% 824307 $6,267,702 KNB Koonenberrygold 0.044 -29% 73272914 $63,530,934 HHR Hartshead Resources 0.005 -29% 30552538 $19,660,775 BP8 Bph Global Ltd 0.0015 -25% 198024 $2,101,969 HLX Helix Resources 0.0015 -25% 612046 $6,728,387 LNR Lanthanein Resources 0.0015 -25% 4920189 $4,887,272 HMD Heramed Limited 0.009 -25% 9550833 $10,507,233 ENT Enterprise Metals 0.002 -20% 1 $2,945,793 LML Lincoln Minerals 0.004 -20% 125759 $10,512,849 OVT Ovanti Limited 0.002 -20% 1943135 $6,983,788 VRC Volt Resources Ltd 0.004 -20% 456393 $23,423,890 CF1 Complii Fintech Ltd 0.019 -17% 100042 $13,142,054 G88 Golden Mile Res Ltd 0.015 -17% 9253892 $9,796,461 ADG Adelong Gold Limited 0.005 -17% 2203890 $12,412,060 BPP Babylon Pump & Power 0.005 -17% 4363293 $16,623,401 EAT Entertainment 0.005 -17% 242016 $7,852,716 FBR FBR Ltd 0.005 -17% 1804985 $34,136,713 JAV Javelin Minerals Ltd 0.0025 -17% 1268000 $18,378,447 PKO Peako Limited 0.0025 -17% 186667 $4,463,226 TON Triton Min Ltd 0.005 -17% 184797 $9,410,332 ZEU Zeus Resources Ltd 0.01 -17% 1134147 $7,688,078 GRE Greentechmetals 0.043 -16% 609790 $5,719,266 HAR Harangaresources 0.065 -16% 1213638 $8,785,640 IN CASE YOU MISSED IT Golden Mile Resources (ASX:G88) has wrapped up its first copper drill campaign with an early success as it awaits assays in the red hot state of Arizona. Koonenberry Gold's (ASX:KNB) fifth Sunnyside hole has returned a broad gold intersection that outlines its bulk tonnage potential. In this episode of Break it Down, host Tylah Tully looks at news from EBR Systems (ASX:EBR), which has implanted its first US commercial patients with the WiSE CRT System. MDF Global is using AI to uncover potential discoveries in Alaska thanks to its Critical Metal Alliance, which can access thousands of historical exploration data points. A 17-hole campaign at Astral Resources' (ASX:AAR) Kamperman deposit has returned fresh high-grade assays, reinforcing the significant gold opportunity. TRADING HALTS
News.com.au
an hour ago
- News.com.au
Andrew Redmayne's deal to return to Central Coast Mariners now uncertain
Former Socceroos goalkeeper Andrew Redmayne's hopes of rejoining Central Coast Mariners are in jeopardy after an apparent about-face from club owner and chairman Mike Charlesworth. It was announced in April that veteran gloveman Redmayne was parting ways with Sydney FC at the end of the 2024-25 A-League season after eight years with the Sky Blues, having lost his first-team place to Harrison Devenish-Meares. It's understood that soon after the announcement, 36-year-old Redmayne signed a contract with the Mariners, the club where he started his A-League career as a teenager in 2008. Sources close to the cash-strapped Mariners say that Charlesworth approved the deal. However, it now believed that as part of the club's current freeze on signing players, Charlesworth has back-tracked on bringing Redmayne back to Gosford, potentially leaving the experienced gloveman in limbo. A potential lifeline looms for Redmayne if English Championship club Queens Park Rangers commit to buying the Mariners. A decision is expected soon from QPR, although it's understood there is also a consortium of Australian businessmen interested in purchasing a stake in the Mariners on the proviso that Charlesworth retains 40 per cent of the club ownership. Meanwhile, star defender Brian Kaltak, whose departure from the Mariners was confirmed on Thursday, has joined Perth Glory on a multi-year deal. The 31-year-old Vanuatu international, who won two A-League championships and an AFC Cup during his three seasons with Central Coast, said it was 'time to try something new'. 'This a new chapter for me and I'm excited for it,' Kaltak said. 'This move will be good for me and good for my football.' In other A-League news, Macarthur FC has announced the departure of four players – left-back Ivan Vujica, right-back Yianni Nicolaou, and midfielders Danny De Silva and Peter Makrillos.
ABC News
an hour ago
- ABC News
Queensland treasurer flags extra $1.4b in state budget for CopperString
Queensland's treasurer has vowed the government will not pay for further cost increases to the multi-billion-dollar CopperString 2032 energy project, after allocating more money in this year's budget. Treasurer David Janetzki revealed in Townsville that $2.4 billion had been committed to the project, an increase of $1.4 billion from the previous Labor government's budget. The 1,100 kilometres of power line network from Townsville to Mount Isa would connect towns and mines to the national electricity market for the first time. In April, the government announced private investment would be sought after costs blew out to $13.9 billion, a figure contested by government-owned corporation Powerlink, which costed the project at $9 billion late last year. Mr Janetzki said CopperString 2032 would go ahead, but stressed its details were still under review. "I want to make sure CopperString doesn't cost $13.9 billion dollars," he said. Earlier this year, the state government announced a major change to the scope of the project — that Powerlink would begin construction on the Hughenden-to-Townsville section of the project, while private investment was being sought to construct the Hughenden-to-Mount Isa section through the Queensland Investment Commission. "There will be additional investment into CopperString in the years ahead," Mr Janetzki said. "There will need to be, but I'm very clear we will be delivering that for less than $13.9 billion. "What I want to see is QIC do its work." Flinders Shire Mayor Kate Peddle said her community — centred on the western Queensland town of Hughenden — was tired of announcements and wanted action. "I joke with our councillors that we have one bottle of champagne left in the fridge and we'll be leaving that until we see one tower go up," she said. Deputy Opposition Leader Cameron Dick said the government was being deliberately misleading about whether it would deliver the project in its entirety. "We're going to hold this government to its promises to deliver CopperString all the way from Townsville to Mount Isa, and we see the government moving away from that promise," he said. Construction work on the transmission line is expected to start in Hughenden by the end of the year.
