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​Westpac, ANZ CEOs face Australian parliamentary grilling over money-laundering issues

( October 12, 2017, 06:54 GMT | Insight) -- The CEOs of Westpac and ANZ told lawmakers in an Australian parliamentary hearing that the Australian Transaction Reports and Analysis Centre has found no evidence of their banks breaching of anti-money laundering laws, including those allegedly committed by the Commonwealth Bank of Australia, the Australian Associated Press reports.The CEOs of Westpac and ANZ told lawmakers in an Australian parliamentary hearing that the Australian Transaction Reports and Analysis Centre has found no evidence of their banks breaching of anti-money laundering laws, including those allegedly committed by the Commonwealth Bank of Australia, the Australian Associated Press reports. Westpac and ANZ has limits of A$4,000 and A$5,000, respectively, on deposits made through ATMs, well below the A$20,000 limit on CBA's intelligent deposit machines, which Austrac alleges were exploited by criminal gangs to launder millions of dollars. CBA and National Australia Bank are due to face the same committee on Oct. 20....

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