And who votes for the Board? The shareholders, that's who. And who profited from these alleged lapses? Shareholders again.
Leaving the bank open to regulatory action and fines is just another aspect of management competence like poor investment decisions. When you invest in a company you're putting your trust in management so if you're investing in a bank you're trusting management to perform all of the necessary banking functions, not just make money from one year to the next.
Welcome to Capitalism.
(I don't disagree with your comment on criminal penalties though).
Austrac fines, page-2
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