Australia’s Westpac accused of 23 million money laundering breaches

Australia’s Westpac accused of 23 million money laundering breaches

Regulators accused Australia’s Westpac Banking of 23 million breaches of AML laws, saying the banking giant ignored red flags and for years enabled payments from convicted child sex offenders. The oversight failure led to deep systemic non-compliance with anti-money laundering laws, financial crime watchdog AUSTRAC said.

KCooper
KCooper
Miles O'Brien
Miles O'Brien 3 months

Australia's banks are controlling the government. They have been in control for decades.

Lord Flasheart
Lord Flasheart 3 months

One of Australia's big 4 banks. All 4 make billions in profit every year, they don't drop interest rates or if they do its never the full amount the RBA does. Wouldn't suprise me if the other 3 are also involved.

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