Westpac announces record-breaking $1.3b fine | CharlotteGriev1
Westpac has announced it will pay a $1.3 billion fine, the largest in Australian corporate history.Chief executive Peter King apologised for the bank's failings as the settlement with the financial crimes regulator, the Australian Transaction Reports and Analysis Centre , was announced.
"We are committed to fixing the issues to ensure that these mistakes do not happen again. This has been my number one priority. We have also closed down relevant products and reported all relevant historical transactions."
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