Pressure mounted on the chief executive of Westpac Banking Corp on Thursday over...
) on Thursday over the handling of Australia’s biggest money laundering scandal, with the prime minister saying the bank’s board should reflect deeply on Brian Hartzer’s position.
“These are some very disturbing, very disturbing transactions involving despicable behavior,” Prime Minister Scott Morrison told Australian Broadcasting Corp on Thursday.“They should be taking this very seriously, reflecting on it very deeply and taking the appropriate decisions for the protection of people’s interests in Australia - their safety,” Morrison said.
Under Australia’s “two strike” law, if investors vote down executive pay two years running, they can call for the entire board to be removed. The Australian Council of Superannuation Investors said the allegations from AUSTRAC were “incredibly concerning doing nothing to rebuild public trust”.
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