In February 2026, the Commonwealth Bank of Australia (CBA) reported itself to the police and the Australian Securities and Investments Commission (ASIC) over a suspected $1 billion mortgage fraud scheme.
The investigation centres on a massive volume of home loans allegedly obtained using fraudulent documentation, much of it sophisticated forgeries.
While the scale of the fraud is unprecedented (representing the largest potential fraud against an Australian bank), CBA stated it is not currently “out of pocket“ because the mortgages are being actively paid down and are secured against physical properties.
