And Now It’s the Banksters Turn: Westpac Links to Child Trafficking and Child Pornography.

So who isn’t involved in the Elite pedo network?

TV entertainers, politicians, church leaders, Royals, and now the Banksters. Hardly surprising really.

Westpac Australia CEO Hartzer will be given 12 months’ notice and paid out A$2.7m in salary, but will forfeit all bonuses. Awww, what a jolly shame, such harsh punishment for profiteering from child torture and exploitation. He should be walking away in leg irons to the gallows and his $2.7 mil donated to child exploitation prevention resources.

Criminology professor Michael Salter comments:

By at least 2013, Westpac knew about the link between child sexual exploitation and frequent low value payments to the Philippines and South East Asia, but did not implement automated detection solutions until 2018

https://twitter.com/mike_salter/status/1197016709598547968

As has been widely publicised on the MSM here in the Southern Hemisphere, time and circumstances have caught up with these crooks:

Westpac faces APRA inquiry as Frydenberg warns heads could roll

“These are very serious issues, both in terms of the nature and the number of alleged breaches. We’re talking about 23 million alleged breaches of the anti-money laundering laws, we’re talking about the failure to adequately assess customers with links to child trafficking and child pornography.”

Mr Frydenberg said APRA had the authority to punish companies, directors and executives where there had been a failure to perform their duties.

He noted that the Banking Executive Accountability Regime (BEAR) was legislated in 2018 and was not retrospective, while some of the alleged Westpac offences date back to 2013.

“APRA is an independent agency like AUSTRAC and they will determine their own conclusions, but what I will say is that they are looking at it and obviously they have particular powers under that legislation that we introduced,” he said….

… Asked if jail sentences should be imposed on individual directors or executives, as recommended by former competition regulator Allan Fels, the Treasurer pointed to existing laws that could fine companies and disqualify directors. FULL ARTICLE HERE

‘A free pass to paedophiles’: A guide to Westpac’s money laundering scandal

“Westpac may have facilitated child exploitation in southeast Asia through its lack of oversight of frequent low-value payments through an international payments service named LitePay.

The AFR reports one customer used LitePay to funnel money to a man later arrested on child sex trafficking trafficking charges….

…Westpac knew there were heightened child exploitation risks with frequent low-value payments to certain areas in the Philippines and other parts of southeast Asia. However, the bank did not implement a proper automated detection solution until 2018.

It’s this last allegation which is dominating headlines, with Australian Home Affairs Minister Peter Dutton alleging Westpac has “given a free pass to paedophiles” and should face significant consequences.

“It is clear… that the Westpac banking bosses, through their negligence, have given a free pass to paedophiles, and there is a price to pay for that and that price will be paid and we have been very clear about it,” Dutton told Parliament on Monday. FULL ARTICLE HERE

And since they don’t have hearts, hitting them in the wallet should give them something to think about:

DBRS Morningstar downgrade Westpac in light of transaction scandal

One by one they’re coming out of the woodwork. How many more are lurking beneath the surface? MH