The Times Australia
Google AI
Business and Money

It's not only Westpac. What's behind the biggest fine in Australian corporate history

  • Written by Thomas Clarke, Professor, UTS Business, University of Technology Sydney
It's not only Westpac. What's behind the biggest fine in Australian corporate historyMarlon Trottmann/Shutterstock

Westpac is to pay A$1.3 billion, by far Australia’s biggest-ever corporate fine for breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act.

The 93-page statement of agreed facts and admissions prepared by Westpac and the Australian Transaction Reports and Analysis Centre (AUSTRAC) says Westpac...

Read more: It's not only Westpac. What's behind the biggest fine in Australian corporate history

Business Times

The shout is fading as Aussies hit their spending limits

Half of Australians now pay only for their own order and one in three are ditching the shout A widening gap in what Austra...

Revealed: Office temps are a productivity risk for business owner…

Alliance Climate Control surveyed 1,000 Australian adults who work in an office at least one day a week. The results show t...

How Furniture Hire Revolutionises Hospitality Business Venues Ins…

First impressions can shape everything, especially in a hospitality business. In fact, guests may not remember the room but...

The Times Features

5 Cool Ways to Transform Your Interior in 2026

We are at the end of the great Australian summer, and this is the perfect time to start thinking a...

What First-Time Buyers Must Know About Mortgages and Home Ownership

The reality is, owning a home isn’t for everyone. It’s a personal lifestyle decision rather than a...

SHOP 2026’s HOTTEST HOME TRENDS AT LOW PRICES WITH KMART’S FEBRUARY LIVING COLLECTION

Kmart’s fresh new February Living range brings affordable style to every room, showcasing an  insp...

Holafly report finds top global destinations for remote and hybrid workers

Data collected by Holafly found that 8 in 10 professionals plan to travel internationally in 202...

Will Ozempic-style patches help me lose weight? Two experts explain

Could a simple patch, inspired by the weight-loss drug Ozempic[1], really help you shed excess k...

Parks Victoria launches major statewide recruitment drive

The search is on for Victoria's next generation of rangers, with outdoor enthusiasts encouraged ...

Labour crunch to deepen in 2026 as regional skills crisis escalates

A leading talent acquisition expert is warning Australian businesses are facing an unprecedented r...

Technical SEO Fundamentals Every Small Business Website Must Fix in 2026

Technical SEO Fundamentals often sound intimidating to small business owners. Many Melbourne busin...

Most Older Australians Want to Stay in Their Homes Despite Pressure to Downsize

Retirees need credible alternatives to downsizing that respect their preferences The national con...