
Bank hit with $1.3b money laundering fine
Westpac has agreed to pay a record $1.3 billion fine for major breaches of money laundering and terror financing laws – the largest civil penalty in Australian history.
Westpac has agreed to pay a record $1.3 billion fine for major breaches of money laundering and terror financing laws – the largest civil penalty in Australian history.
A cache of leaked files uncovered by a network of investigative journalists has revealed major failings in the global fight against international money laundering.
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Australia’s financial intelligence agency is pursuing Westpac for alleged breaches of money laundering and counter-terror laws.