AUSTRAC adjourn Westpac (ASX:WBC) case

Company News

by Rachael Jones

On Monday Westpac (ASX:WBC) and AUSTRAC appeared in the Federal Court for a case management hearing in relation to the anti-money laundering regulator’s proceedings.

The both parties told the Court that discussions regarding a Statement of Agreed Facts have started, and the Court adjourned the matter til late February or early March 2020.

Westpac has made a number of changes to its transaction monitoring and is continuing to review its processes and report to AUSTRAC suspicious matters that are identified.

Shares in On Monday Westpac (ASX:WBC) closed 0.33 per cent higher at $24.35 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.