Assistant Minister for finance and charities Zed Seselja says Westpac faces "massive fines" for its alleged breaches. Westpac has been accused of breaching Australia’s anti-money laundering and counter terrorism finance laws 23 million times.
Mr Seselja told Sky News “there are potential massive fines on the table and a whole range of accountability for both individuals, and for the corporation itself”. “Westpac needs to show the community that they are not just cooperating with authorities but holding their own people to account for these [alleged] breaches of law,” he said. Image: Getty
ZedSeselja Fuck that Are they going to fine everyday people when they are involved in money laundering? Arrest the people involved
ZedSeselja Fines are almost useless and we all get penalised as the bank covers these losses with increased fees. Execs must go to jail. It's the only effective deterrent
ZedSeselja Suspend or cancel their banking license and charge the CEO and board members. If the CEO isnt sacked then Westpac has learnt nothing from the RC and this new criminal activity, heads including CEO must roll WestpacMedia Westpac smh canberratimes theage abcnews
ZedSeselja And these dirty politicians want to introduce a cash ban forcing people into these institutions who seem to be the biggest violators of the law. No thanks. Do not allow the cash ban!
ZedSeselja How about jail time
ZedSeselja The liberals work for the banks and against the Australian people, wait and see how wet the lettuce leaf is they will use on westpac
ZedSeselja Board should be sacked -it’s Westpac shareholders paying the fines with their hard earned for bad management😡