Published: November 23, 2019
Lindsay Maxsted releases response plan to failings identified by Austrac and reiterates the bank’s ‘deep sorrow’
Westpac has released its response plan to the latest banking scandal to engulf a major Australian financial institution, just hours after the treasurer, Josh Frydenberg, announced the banking watchdog could disqualify its board.
In a statement released on Sunday afternoon the Westpac chairman, Lindsay Maxsted, reiterated the bank’s “deep sorrow” for the failings identified by the financial intelligence agency, Austrac, earlier this week, which included potentially facilitating child exploitation.
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