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Westpac’s pursuit of profit “placed children directly at risk of harm”

Westpac’s pursuit of profit “placed children directly at risk of harm”

In 2018, when Westpac executives skimped on embedding proper controls to track financial crimes, they earned significant bonuses after reporting an operating profit of A$8 billion but they put children at risk of sexual abuse. The bank is now facing a $1 billion penalty, but only $A20 million has been clawed back from those 38 individuals. Nathan Lynch reports.

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