There are a few efforts to hose down Westpac’s AML disaster today, at the AFR:
The bank’s message, subtly transmitted in the past 24 hours, suggests that the number of alleged child cases was small – amidst a humungous list of 23 million breaches of the anti-money laundering and counter-terrorism financing laws the regulator has smashed Westpac with.
But what is small? AUSTRAC cited 12 customers it had identified with solid data. These 12 had sent 3057 “low-value” money transfers on Westpac platforms which failed to have ID detection technology – to countries like the Philippines.
