An extra 500 million AUD says the Australian Prudential Regulation Authority (APRA).
This is in response to Australian bank accused of breaching anti-money laundering laws ... 23 million times
Headlines via Reuters:
- APRA launches Westpac investigation
- APRA says increases Westpac capital requirement add-ons to a$1 billion
- to impose an immediate increase in Westpac's capital requirements of a$500 million
- says while Westpac is financially sound, there are potentially substantial gaps in risk governance
Westpac is one of the 'big 4' Australian banks.
