Westpac ticking every anti-money-laundering box wouldn’t make much difference to criminals
- Editors' Picks
The charges surrounding Westpac’s alleged 23 million breaches of anti-money laundering laws have been called “about as serious as it gets”. Westpac shirking its reporting responsibilities is bad, obviously. But the context is also important. Consider the sheer number of reports banks are expected to file automatically with the number of reports involving suspicious transactions, and the number leading to actual arrests and convictions.
