November 25, 2019 / 9:02 PM / 19 days ago

Westpac CEO resigns as money-laundering scandal rocks Australia's second-biggest bank

Nov 26 (Reuters) - Westpac Banking Corp on Tuesday said chief executive Brian Hartzer has resigned, as Australia’s second-biggest bank faces the country’s biggest money laundering scandal.

The banking giant is accused of 23 million breaches of anti-money laundering laws and potentially billions of dollars in fines.

Chief Financial Officer Peter King will be taking over as acting CEO, effective Monday 2 Dec. (Reporting by Niyati Shetty and Nikhil Kurian Nainan in Bengaluru; Editing by Sandra Maler)

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