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​Westpac says it will review Australian regulator's money-laundering, terrorism-financing claims

( November 19, 2019, 23:58 GMT | Official Statement) -- MLex Summary: Westpac Banking Corporation said today it’s reviewing a statement of claim lodged in the Federal Court of Australia by the country’s financial intelligence agency, which is asking the court to consider civil penalties over the lender’s failure to comply with anti-money laundering and counter-terrorism financing laws. In a statement to the Australian Securities Exchange, Westpac said it had self-reported its failure to report a large number of international funds transfer instructions, or IFTIs, to the Australian Transaction Reports and Analysis Centre. The Australian lender said it would make a further announcement to the ASX once the Austrac court documents had been assessed.Westpac's statement to the Australian Securities Exchange is attached. ...

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