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Westpac CEO resigned amid its financial misconduct

Westpac Under Pressure Following Money Laundering Scandal
Westpack bank in Sydney (Mark Metcalfe/Getty Images) Source: Getty Images

Westpac chairman will retire early and it's Chief Executive Officer resigned after the Australian Transaction Reports and Analysis Centre (AUSTRAC) alleged that Westpac has committed 23 million fraudulent financial transactions that breached the money laundering and terrorist financing laws and it is seeking penalties.


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By Ricardo Gonçalves

Presented by Vixay Vue

Source: SBS




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Westpac chairman will retire early and it's Chief Executive Officer resigned after the Australian Transaction Reports and Analysis Centre (AUSTRAC) alleged that Westpac has committed 23 million fraudulent financial transactions that breached the money laundering and terrorist financing laws and it is seeking penalties.


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