Westpac’s failure to obey anti-money laundering and counter-terror finance laws allowed a customer to make payments to a person in the Philippines, who was later arrested for child sex trafficking and live-streaming child sex shows.
The national bank has been accused of 23 million breaches of anti-money laundering and counter-terrorism financing laws.
Westpac boss Brian Hartzer, says he was “disgusted and appalled” by the allegations, but said he would not resign, however, Prime Minister Scott Morrison has urged the board to think ‘very deeply’ about his future with the company.
“I will be personally leading our response to all of these issues,” Mr Hartzer said.