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Reuters
Reuters
Business

U.S. class actions pile up against Australia's Westpac amid money-laundering scandal

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/File Photo

Australia's No.2 lender Westpac Banking Corp <WBC.AX> was hit with another U.S. class-action lawsuit in less than a week on Monday, over issues with its financial crime monitoring amid a recent money laundering scandal.

Westpac was sued by Australia's financial crime watchdog AUSTRAC in November for 23 million alleged breaches of anti-money laundering laws, including payments between known child exploiters.

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