Westpac faces fines over 'serious and systemic' anti-money laundering breaches
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Westpac is facing massive fines in the biggest anti-money laundering case in Australia's history. The bank is accused of failing to adequately monitor the accounts of customers involved in child sex abuse and exploitation. The regulator, Austrac, says Westpac broke the law in at least 23 million transactions totalling more than $11 billion.