Tag: AUSTRAC

One of the four biggest Australian banks is facing some huge challenges. Not only is Westpac accused of having breached anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, but it is now also dealing with a smattering of lawsuits.

Westpac has appointed Promontory to conduct an external accountability and financial crime program review, following the bank’s numerous money laundering accusations.

Australian bank Westpac will see its CEO Brian Hartzer step down next week as the lender is facing money laundering and terrorism financing allegations.