Global Investigations Review - The law and practice of international investigations

Westpac signs Australia’s largest corporate settlement over money laundering breaches

By James Thomas

24 September 2020

Westpac signs Australia’s largest corporate settlement over money laundering breaches Westpac at night (Credit: shutterstock.com/Dr. Victor Wong)

Australia’s attorney general called the bank’s anti-money laundering record “abysmal” after it agreed to pay a fine that is close to double the previous highest corporate penalty in the country.