Across the Tasman, the Australian financial crimes regulator AUSTRAC has stunned the financial world with claims that the banking giant Westpac has breached anti-money laundering laws nearly 23 million times.
It's also alleging the banking giant failed to carry out due diligence on transactions to the Philippines and South East Asia, that may have involved child exploitation.
The ABC's senior digital business reporter, Michael Janda, talks to Karyn from Sydney about AUSTRAC's application today to the Federation Court for civil penalty orders against Westpac in Australia.
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