Westpac Banking Corporation

Passed

Class Action Period:
November 11, 2015 - November 19, 2019

Lead Plaintiff Deadline:
March 30, 2020

Case Form

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Allegations

(1) contrary to Australian law, the Company failed to report over 19.5 million international funds transfer instructions to the Australian Transaction Reports and Analysis Centre ("AUSTRAC"); (2) the Company did not appropriately monitor and assess the ongoing money laundering and terrorism financing risks associated with movement of money into and out of Australia; (3) the Westpac did not pass on requisite information about the source of funds to other banks in the transfer chain; (4) despite being aware of the heightened risks, the Company did not carry out appropriate due diligence on transactions in South East Asia and the Philippines that had known financial indicators relating to child exploitation risks; (5) the Company's Anti-Money Laundering and Counter-Terrorism Financing Policy Program was inadequate to identify, mitigate and manage money laundering and terrorism financing risks; and (6) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Eligibility

In order to be included in the lawsuit, you must have incurred a loss on shares of purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in during the relevant time frame, you have until March 30, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.