Actually
@pomhat, it is you that does not get it. For you to say that "
none of them were done deliberately or knowingly", is naive (or alternatively deceptive) and incorrect. Westpac bank wrote an application Litepay specifically to allow customers to avoid the aml checking procedures which allowed pedophiles and crooks to bypass aml. NAB knew it was contravening AML laws and was working to rectify it.
Yes, all the banks need to do (because they are big and wealthy) is 'fess up', use shareholder money to pay the fee, and move on. No harm to the banks as it is a small % of the banks' profits. Westpad obviously knew what they were doing if there was a decision to write litepay. So give me a break about the complexity of the bank being the reason AML laws were broken. Frankly, they just didn't care and thought it didn't matter, "because the man on the street didn't care" - a fact that one of the directors of Westpac said (and was leaked).
Conversely, ISX/SP1 maintains that it did not break any laws- a fact that obviously ASIC agrees with since it has taken JK and ISX to civil court, not criminal court. You obviously are making a judgment that ISX/SP1 should have pled guilty and copped the fine when it maintains they did not breach any rules or laws.
