Westpac's panicked response to its money-laundering scandal looks ill-considered
- Written by Louis de Koker, Professor of Law, La Trobe University
Westpac’s board has jettisoned its chief executive, Brian Hartzer[1], just hours after he reportedly told his team mainstream Australia was not overly concerned about the bank’s 23 million alleged breaches[2] of anti-money-laundering laws, including handling transactions potentially involving child sex abuse.
References
- ^ jettisoned its chief executive, Brian Hartzer (www.asx.com.au)
- ^ 23 million alleged breaches (www.austrac.gov.au)
- ^ Westpac's announcement to the Australian Securities Exchange. (www.asx.com.au)
- ^ emergency response (www.westpac.com.au)
- ^ Extract from Westpac's weekend response. (cdn.theconversation.com)
- ^ recognises (www.un.org)
- ^ accounts (data.worldbank.org)
- ^ If Australia cares about Pacific nations, we should also invest in their care givers (theconversation.com)
- ^ generally (www.un.org)
- ^ 700 small Australian remitters (www.austlii.edu.au)
- ^ Gail Kelly said (www.smh.com.au)
- ^ stated (www.fatf-gafi.org)
- ^ case-by-case basis (www.fatf-gafi.org)
- ^ a 2017 report (www.austrac.gov.au)
- ^ With increased anti-money laundering measures, banks are shutting out women (theconversation.com)
- ^ research by myself and Supriya Singh (theconversation.com)
- ^ unregulated channels and even cash (classic.austlii.edu.au)
- ^ launched in 2016 (www.reuters.com)
- ^ to identify activity indicative of child exploitation risks (www.austrac.gov.au)
- ^ How states rocked by conflict could harness funds from their diasporas (theconversation.com)
- ^ collaborative (classic.austlii.edu.au)
Authors: Louis de Koker, Professor of Law, La Trobe University