Australia's Westpac admits to breaches of money-laundering laws
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(Reuters) - Australia's Westpac Banking Corp said in a defence filing in Federal Court on Friday it was admitting to a number of failures in a case where it has been accused of 23 million breaches of anti-money laundering and counter-terrorism laws.The country's second largest bank admitted it had failed to correctly report various international transfers of funds as required by law, adding that it accepted the gravity of the issues raised by the regulator AUSTRAC.Westpac also said it was..