Westpac austrac news. 3 billion) and the Commonwealth Bank ($700 million) for breaches of anti-money laundering and counter-terrorism financing laws. Oct 21, 2020 · The Federal Court of Australia has today ordered Westpac to pay a $1. 3 billion dollar proposed penalty over Westpac’s breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). 3 billion penalty and the 23 million anti-money laundering breaches that exposed the banking giant's failings are destined to be a long-running case study, but a few big questions loom Westpac has agreed to pay penalties of $1. Join the HotCopper ASX share market forum today for free. “The Westpac AUSTRAC case demonstrates that AML/CTF failures are not only about regulatory fines — they can have a direct connection to some of the most serious harms in society, including child exploitation. Sep 24, 2020 · The $1. Nov 20, 2019 · AUSTRAC, Australia’s anti money-laundering and terrorism financing regulator, has today applied to the Federal Court of Australia for civil penalty orders against Westpac Banking Corporation (Westpac). Sep 25, 2020 · Westpac: Customer 12’s suspicious action that led bank to $1. 3 billion fine over Austrac scandal Westpac has copped a staggering $1. hsrpdw jtgkkrx zvlqapo vahpm zmjf lfxjs xahtv uhbqpss zpjtlp vlmqemf