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AUSTRAC has become a force to be reckoned with

Fines will be hefty; Nicole Rose has a benchmark already: the $700 million from CBA.

Pamela WilliamsWriter-at-large
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When Nicole Rose pulled the lever on Westpac, with explosive AUSTRAC allegations of 23 million breaches of money laundering and terror finance laws over five years, she displayed all the muscle and determination of this small regulator.

The staggering announcement on Wednesday totally eclipses the CBA case where Rose extracted a settlement of $700 million in June last year.

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Pamela Williams is The Australian Financial Review’s writer-at-large. She is an investigative reporter and author, and has won six Walkley Awards and the Graham Perkin Journalist of the Year Award. Email Pamela at pamela.williams@afr.com.au
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    Original URL: https://www.afr.com/link/follow-20180101-p53cdt