Fairfax Media is reporting that all major banks, not just the Commonwealth Bank, have holes in their anti-money laundering systems that are being exploited by organised crime gangs, who are 'laundering' up A$5 million a day in money from drug sales.  Fairfax also claims that organised criminals have attempted to take over individual franchises of mid-tier banks, such as Bank of Queensland's Punchbowl branch.Organised crime gangs using the Big Four banks are estimated to be laundering A$5 million per day, with the 'washed' money then heading offshore.The Brisbane Times, for instance, citing "new details of police investigation" in a front-page news item, reports that Nick McTaggart (the former National Coordinator of the Commonwealth Asset Confiscation Taskforce who recently worked for Austrac as a senior adviser) believes the failure of major banks and other financial institutions to carry out basic due diligence likely placed them in breach of "know your customer" requirements.Exacerbating the problem is the failure of financial institutions to share information with each other, or to access information from the federal government or police, including biometric, intelligence or tax data."Most financial institutions are just ticking the compliance boxes rather than doing the necessary due diligence," McTaggart is quoted as saying.Syndicates are also suspected to have infiltrated the franchises of mid-tier banks. Police have gathered intelligence that an outlaw bikie group is examining acquiring the franchise of a mid-tier bank, while the Bank of Queensland's Punchbowl branch in Sydney was closed after Mexican cartel drug money washed funds through its accounts in 2010.An Australian Crime Commission "High Risk Funds" investigation, which was examining the movement of illicit cash to the former Yugoslavia in 2012, identified a Bendigo Bank franchise that seemed to be involved, Fairfax reports.