Morgan Stanley analysts say Westpac may be required to raise capital if Austrac 'bear case' scenario plays out, whilst UBS labels Aussie banks 'global laggards in addressing AML & compliance issues'

Morgan Stanley analysts say Westpac may be required to raise capital if Austrac 'bear case' scenario plays out, whilst UBS labels Aussie banks 'global laggards in addressing AML & compliance issues'

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That fine should be distributed among all the customers of the bank.

No it shouldn't, Westpac should be made to track down every last child victim of their gross incompetence and it should be used to set them up for life.

Is that practical ? Then Westpac will have to give up its banking licence and become a PI force.

Any fine WILL be distributed among the customers of the bank!
Who else is going to pay it but customers via higher fees of one sort or another? (But I suspect you meant that!)

Never fear, all senior mgt bonuses will be protected and that estimated A$3 billions fine will be spreaded amongst their customers. The only difference between mafia mobs and the big fours is the sunglasses!

Why don't our regulators have the testicular fortitude to take on the crooks that have sewn up the NZ economy
like the Australian or USA regulators. They only have to say boo and our lot scurry back into their comfortable Wellington rabbit holes.