Westpac's board is fronting shareholders for the first time since it was charged with breaching anti-money laundering laws 23 million times and inadvertently facilitating payments for child sex abuse.
At its annual general meeting in Sydney, the bank is potentially facing a massive protest vote against the re-election of its directors.
One particularly angry shareholder, former Labor senator Chris Schacht, stole the show by berating Westpac's board in front of all the attendees."How the hell did this go on for five years? AUSTRAC warned you last year, and the year before." Westpac is trying avoid a"second strike" of its executive remuneration report, which could trigger a board spill.
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