June 4 (Reuters) - Australian lender Westpac Banking Corp (WBC) said on Thursday its millions of breaches of anti-money laundering and counter-terrorism laws were caused by "faults of omission" and not intentional wrongdoing.
Unclear accountabilities as well as a lack of understanding and expertise caused the compliance failures, the company said in a statement.
Last month, the country's second-largest bank had admitted to the charges but denied accusations it enabled illegal payments between known child sex offenders.
News: WBC Australia's Westpac unveils findings from compliance review
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Last
$33.99 |
Change
0.080(0.24%) |
Mkt cap ! $116.2B | |||
| Open | High | Low | Value | Volume |
| $33.90 | $34.00 | $33.65 | $99.58M | 2.935M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1475 | $33.96 |
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| Price($) | Vol. | No. |
|---|---|---|
| $33.99 | 385 | 1 |
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| WBC (ASX) Chart |