Paedophile payments just the start in Westpac mess
The bombshell allegations involving 3057 micropayments, some of which may have facilitated child exploitation, were symptomatic of a deeper problem at Westpac.
When AUSTRAC chief executive Nicole Rose flew to Manila two weeks ago she had more on her mind than money laundering.
Weeks away from launching court action against Westpac for 23 million breaches of the law, she was ostensibly there to launch a paper at a counter-terrorism financing summit.
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
