WBC westpac banking corporation

News: WBC Australia's AUSTRAC calls Westpac's anti-money laundering oversight 'deficient'

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    Nov 20 (Reuters) - Australia's financial crime watchdog called Westpac Banking Corp's (WBC) anti-money laundering oversight "deficient", and said it had applied to a court on Wednesday seeking a civil penalty.

    Westpac breached the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006 over 23 million times, AUSTRAC, the country's anti money-laundering and terrorism financing regulator, said in a statement.

 
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