Politicians across the aisle are calling on Westpac to consider the future of its leadership team after the bank was accused of 23 million breaches of anti-money laundering and counter terrorism finance laws. CEO Brian Hatzer said he was "disgusted and appalled" by the breaches, but rejected claims the board was indifferent to the risks that triggered them. Mr Hartzer confirmed he did not intend to resign, but Prime Minister Scott Morrison said the bank needed to reflect on its misconduct. The Shadow Assistant Treasurer was stronger in his assessment of Mr Hartzer's future and pointed to the penalties paid by the Commonwealth Bank following an AUSTRAC investigation.
from National | Daily Telegraph https://ift.tt/2XC7ih0
Wednesday, November 20, 2019
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