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Reuters
Reuters
Business

Australia's banking regulator ends Westpac money laundering probe

FILE PHOTO: A pedestrian looks at his phone as he walks past a logo for Australia's Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray

Australia's banking regulator said on Friday it had closed the investigation against Westpac Banking Corp for possible breaches of anti-money laundering and counter-terrorism laws.

The bank was first accused of breaching the laws in 2019 by the country's financial crime watchdog AUSTRAC, which led to parallel probes by corporate regulator ASIC and banking regulator Australian Prudential Regulation Authority (APRA).

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