Australia bank watchdog weighs action against scandal-hit Westpac

The Australian Prudential Regulation Authority  (APRA)  has warned it could disqualify Westpac directors and managers following the money-laundering scandal that has engulfed the bank. APRA chairman Wayne Byres told a parliamentary committee the allegations from the country's financial crime agency, AUSTRAC, against Westpac were "very serious". "While we must be careful not to duplicate or cut across matters for which AUSTRAC is the appropriate regulator, and which are before the courts, we are actively considering what further action by APRA is required," said Byres. "This include...