Westpac, Australia’s second-largest bank, violated money laundering laws 23 million times and could be fined AUD21 million (US$15.7 million) per breach. Westpac Banking Corp, the second-largest bank in Australia, currently faces multiple accusations. One of them is pertaining to the biggest breach of terrorism financing and money laundering laws in history. According to reports, the bank failed to detect over $7.5 billion in cross-border transactions, in addition to infringing money laundering laws 23 million times.Read MoreThe post Second Largest Australian Bank Broke AML Laws More Than 23 Million Times appeared first on Bitcoinist.com.
