‘People have a right to be very concerned’ about alleged Westpac breach

Labor Senator Deb O’Neil says “people have a right to be very concerned” about Westpac allegedly breaching Australia’s anti-money laundering and counter terrorism finance laws. Ms O’Neil told Sky News “to [allegedly] break the law on 23 million occasions is simply outrageous”, because Australia “was at a period of time where we were hoping to be rebuilding trust in our major institutions”. Financial intelligence agency Austrac launched legal action against the bank on Tuesday alleging systemic non-compliance. “It’s okay to make a profit, but you have to put the systems in place to comply with the law,” she said.

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