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Banks face grilling over avoiding Westpac style breaches

Banks will be grilled on their ability to avoid possible AUSTRAC breaches after Westpac was accused of committing 23 million breaches.

Parliamentary hearings will question Macquarie, Bank of Queensland, Bendigo and Adelaide Bank and Suncorp on how they will avoid a Westpac style scandal.

Liberal MP and the committee chairman Tim Wilson tells Ross Greenwood smaller banks follow the same rules as the big four.

“We expect them to be forthright in their reporting about how they’re conducting themselves around things like anti-money laundering.”

Click PLAY below to hear the full interview

Image: Getty/Mark Metcalfe

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