Financial Crime Financial Crime

Westpac's record money-laundering fine reflects 'seriousness' of failings, Australian regulator says

By James Panichi
  • 23 Sep 2020 19:58
  • 23 Sep 2020 23:55
Westpac Banking Corporation appears set to be hit by the biggest money-laundering fine in Australian history, with the lender reaching an agreement with the financial-crime regulator to pay a A$1.3 billion ($919 million) penalty for 23 million violations of Australian laws.

In a statement today (see here), the Australian Transaction Reports and

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