Westpac admits it has failed to fix culture that contributed to money-laundering scandal – The Guardian

Westpac says it has failed to fix an immature and reactive culture of dealing with risks, such as its money-laundering and child exploitation scandal, despite pledging to do so almost two years ago.
The damning findings are contained in a new review of Westpacs corporate culture, commissioned by the bank on the request of the prudential regulator in December after anti-money-laundering authorities launched legal action against it for alleged breaches including failing to properly monitor custom…

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