Westpac Provides AUSTRAC Litigation Update

  • Jun 12, 2020 AEST
  • Team Kalkine

Westpac Banking Corporation (ASX:WBC), on 4 June 2020 filed its Defence to AUSTRAC’s Statement of Claim on 15 May 2020 in which it confessed to a substantial majority of the breaches claimed by AUSTRAC.

On 12 June 2020, Westpac has provided update on AUSTRAC litigation. AUSTRAC has now informed WBC about its further investigation on these matters and it might also change its statement of claim to include allegations arising from these investigations. AUSTRAC has requested WBC for additional information related to these matters along with information related to the TTR issues and 272 customers, a majority of which were subjects of SMRs.


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