Published: July 27, 2020
Bank discloses more breaches to Austrac in response to scandal that resulted in legal action and resignation of CEO and chairman
Westpac says an internal investigation has discovered it may have breached anti-money laundering and counter-terrorism finance laws on up to 450,000 occasions more than it previously thought.
The investigation was ordered in response to a money-laundering and child-exploitation scandal at the bank that resulted in legal action against it by the regulator and the resignation of its chief executive and chairman.
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