Westpac's $1.3b fine a wake-up call for all banks

Elizabeth Sheedy

Department of Applied Finance

Press/Media: Expert Comment

Description

Attorney-General Christian Porter says the record $1.3 billion Westpac fine must serve as a "wake-up call to every other financial institution" that the government expects strict obedience with anti-money laundering laws given they are in place to protect Australians from criminal activity.

Period	24 Sept 2020

Media coverage

Title	Westpac's $1.3b fine a wake-up call for all banks
Degree of recognition	National
Media name/outlet	Australian Financial Review
Media type	Print
Country/Territory	Australia
Date	24/09/20
Description	Article reporting on settlement in AUSTRAC case. Sheedy comments on possibility of reform due to environment of greater executive accountability.
Producer/Author	James Eyres
URL	https://www.afr.com/companies/financial-services/westpac-1-3b-fine-a-wake-up-call-for-all-banks-20200924-p55yrg
Persons	Elizabeth Sheedy

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