Westpac CEO quits as Swift-alternative comes under fire
Australia’s second-largest bank lost its CEO earlier today after a cross-border transaction service was alleged to have broken anti-money laundering rules.
Westpac announced today that chief executive officer Brian Hartzer resigned and chairman Lindsay Maxsted would end his tenure early after the bank became embroiled in a money-laundering scandal involving LitePay, a low-cost cross-border payment service.
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