Watchdogs Hit Money Launderers With Record Fines

Watchdogs Hit Money Launderers With Record Fines

Westpac in Australia was hit with the largest fine for money laundering in 2020.

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There was a dramatic increase in money laundering fines in 2020 as financial crimes boomed during the coronavirus pandemic.
Authorities handed out $2.2 billion in fines last year, five times larger than 2019’s total, according to a report from Kroll, a risk consultancy.
Financial firms were given the…

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