Brian Hartzer, CEO of an Australian Bank, Westpac, has been asked to step down on December 2nd, 2019, over issues regarding a money-laundering scandal. Australia’s Federal Court, along with the country’s financial intelligence agency, AUSTRAC alleged that Westpac breached anti-money laundering and terrorist financing obligations. Westpac was accused of breaching the law 23 times, as well as failure on their part to scrutinize international transactions that allegedly involved sending money to child pornography operations overseas. As a result, Hartzer was identified as the first executive to take the fall. He would be resigning next month with a full salary of 2.7 million dollars (1.8 million U.S. dollars) for 2020 but would be denied his 2019 bonuses. Two top bank officials would be sanctioned as well. Chairman of Westpac, Lindsay Maxsted was advised to extend his retirement to early 2020 and Ewen Crouch, re-election bid withdrawn. --- Support this podcast: https://anchor.fm/newscast-africa/support