Board of Australia's Westpac 'unreservedly apologises' over money-laundering
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SYDNEY (Reuters) - The board of Australia's second largest bank on Friday apologised unreservedly for 23 million breaches of money laundering laws, but stood by management despite pressure from politicians to review its leadership.Westpac Banking Corp said its board met to discuss allegations by financial crime watchdog AUSTRAC that it ignored red flags for years, including payments between known child exploiters. Chairman Lindsay Maxsted said the bank would hire unspecified independent experts..