APRA additional $1B capital requirement — Westpac (AML/CTF)
capital directive24 Sept 2020
Respondent
Westpac Banking Corporation
Facts
Following Westpac's AML/CTF failings, APRA required $1B additional operational risk capital pending a Risk Governance Remediation Plan.
Outcome
Capital requirement maintained pending APRA satisfaction with remediation; reduced in stages from 2023.
Read the source
https://apra.gov.au/news-and-publications/Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.