Australia's Westpac to pay US$923 million fine for money-laundering

By AFP

September 24, 2020 @ 8:23am

SYDNEY: Australia's Westpac bank will pay AU$1.3 billion (US$923 million) in fines for more than 23 million breaches of anti-money laundering laws, the bank and regulators announced Thursday.

"I would like to apologise sincerely for the bank's failings," Westpac CEO Peter King said in announcing the fine, one of the largest in Australian corporate history.--AFP