WBC 0.83% $27.85 westpac banking corporation

I dunno this reputation destroying. Like AMP. This may really...

  1. 1,961 Posts.
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    I dunno this reputation destroying. Like AMP. This may really hurt long term.
    I don’t think the market has priced this in.
    I wonder if WBC will ask the shareholders to pay the fine through a CR?
    Fining the business at the end of the day is an absolute rubbish outcome and AUSTRAC have cemented themselves as a totally useless regulatory agency.
    This fine will hit the shareholders the hardest, people that really had nothing to do with it. If AUSTRAC wanted to make a difference they’d go after the board and the ones who engaged in the untoward behaviour.
    So congratulations AUSTRAC job well done, you’ve really taught them a lesson.
 
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