Australia: Bank fined $1.3 billion but no jail for executives: The law, defences & penalties for money laundering – 7 October 2020

Westpac has admitted that it breached money laundering and terrorism financing laws. Many believe the $1.3 billion fine was inadequate. Article discusses this and the laws around money laundering and the proposed new financial regulations.

https://www.mondaq.com/australia/white-collar-crime-anti-corruption-fraud/992192/bank-fined-13-billion-but-no-jail-for-executives-the-law-defences-penalties-for-money-laundering-