Global Investigations Review - The law and practice of international investigations

Westpac expects to pay Australia's biggest-ever corporate penalty over AML scandal

By Will Barbieri

14 April 2020

Westpac expects to pay Australia's biggest-ever corporate penalty over AML scandal Westpac logo, Melbourne, Australia, (Credit : iStock.com/CraigRJD)

The bank said there is “considerable uncertainty” around the penalty amount as it continues to negotiate agreed facts and a proposed penalty amount with the Australian Transaction Reports and Analysis Centre.