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Midweek Roundup: Westpac CEO Resigns, ANZ Conducts Internal Probe, and More

The chief executive of Australia's Westpac resigned after regulators accused the lender of failing to report billions of dollars in suspicious transactions, including transfers linked to the sexual exploitation of minors in Southeast Asia, Sky News reported. More An Australian government minister said other Westpac executives must also "pay the price" of the alleged breaches of anti-money laundering laws, Reuters reported. More Westpac demoted its chief compliance officer a few months ago after the officer flagged the AML violations internally, the Australian Financial Review reported. More ANZ, the largest bank in New Zealand, launched an internal AML probe last June...

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