News: WBC UPDATE 1-Westpac to sell New Zealand life insurance arm for $281 mln to Fidelity, page-2

yep sell off the parts they havent got wrong, and keep the core business, which they continue to get wrong.

I went to put some funds on Term Deposit, and had to prove how and where I got my money from. The Term Deposit (yeah I know at these interest rates why bother) was only $100k, but they wanted to go through my whole life and everything I bought and sold etc. shares, property. Now that was no mean feat, and lucky I kept good records.I dont think they really know what is expected from them under the Money Laundering legislation. Yet they lend hundreds of millions to a fraudster. I would have been happier if they kept the life insurance, and sold their core business. (With a hint of sarcasm.)

When are they going to get their business right. It appears that we need to factor in a provision for regulatory and other core business mistakes into the annual result because it is not going to stop anytime soon. Its just not right, that when they make mistakes, they are so big and they cost so much.