WBC 0.52% $27.23 westpac banking corporation

Many seem to thing a big fine, followed by a clean up of...

  1. 410 Posts.
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    Many seem to thing a big fine, followed by a clean up of processes and business as usual...all is forgotten is the end of it.

    The consequences of child exploitation and the clear documentation of the facilitation of it and the resulting compensation and negative press will go on for DECADES. Think of the church and institutions caught up in it. The Philippines is the other and of the string. Hundreds or even thousands of cases of children damaged and traumatized due to the "small" transactions that can be linked to accounts associated with pedophiles to those profiting from child pornography. No trivialization or plausible deniability here.

    I believe the words used by Austrac about senior management was "indifference" despite warnings by staff.

    The lawyers will be mobilizing on both ends of the string even as I type this. It is so big that it might even make the world stage. Think the The International Court of Justice level. Compensation. Reputational damage as little children tell their stories for the television.

    This fish is just starting to stink.
 
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