Commonwealth Bank (ASX:CBA) and AUSTRAC will enter mediation to attempt to resolve the civil case in which the bank is alleged to have breached money-laundering and terrorism-funding laws.
Both the bank and AUSTRAC requested the mediation which is set to happen on May 25 2018.
If mediation is unsuccessful and the dispute goes to trial, the next case management hearing is scheduled for December 7.
The federal government's financial intelligence unit alleges CBA breached terrorism funding and money laundering laws almost 54 thousand times between December 2011 and September 2015.
Many of the alleged breaches relate to the timing of the bank's reports of cash transactions of $10,000 or more through its Intelligent Deposit Machines.
Shares in Commonwealth Bank (ASX:CBA) closed down 1.20% to $74.87.