Friday, November 22, 2019

Westpac laundering scandal threatens investor revolt, CEO sacking, possible board spill, AFP says it's assessing pedophile activity revealed by Austrac

Westpac's money laundering scandal threatens the future of chief executive Brian Hartzer, as investors sharpen their knives for the bank's annual general meeting next month. 

The banking giant could suffer a "second strike" after investors revolted last year in response to misconduct revealed at the banking Royal Commission. 

The Australian Federal Police says it is assessing pedophile activity in south east Asia revealed in Austrac's statement of claim alleging 23 million breaches of anti-money laundering rules. 

ISS head of research Vas Kolesnikoff speaks with ABC's Peter Ryan.

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