Australian bank accused of breaching anti-money laundering laws … 23 million times

Author: Eamonn Sheridan | Category: News

Wow. Twenty three million times … 

Australian Financial Review with the report:
  • Austrac …  alleging "serious and systemic non-compliance" with laws that require banks to monitor the flows of money in and out of Australia
  • Austrac alleged Westpac breached anti-money laundering laws 23 million times.
  • "Over nearly five years, these transfers were both in and out of Australia, and amounted to over $11 billion" 
Link is here for more.

By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose