Law Offices of Howard G. Smith announces an investigation on behalf of Westpac Banking Corporation ("Westpac" or the "Company") (NYSE: WBK) investors concerning the Company and its officers’ possible violations of federal securities laws.
On November 19, 2019, Westpac was charged by the Australian Transaction Reports and Analysis Centre ("AUSTRAC") with over 23 million violations of the Anti-Money Laundering and Counter-Terrorism Financing Act (the "AML-CTF Act"). Among other things, AUSTRAC’s Statement of Claim contends that the Company failed to distinguish money laundering or risky payments to and from Southeast Asia indicative of child sexual exploitation, despite Westpac senior management being "specifically briefed" in 2016 on how the bank’s international digital payments service could be at risk for such abuse.
On this news, the Company’s share price fell $0.80, or over 4%, to close at $17.15 per share on November 20, 2019, thereby injuring investors.
If you purchased Westpac securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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