Grounds to sue Austrac for wpc loss?

I don’t think AUSTRAC is accountable to investors or the ASX in that way. They were established to combat international financial crimes, including terrorism, and that appears to what they are doing. It would be exactly the same situation if the Federal Police raided a company and arrested the board and CEO. They can’t be expected to flag their tactics beforehand. Maybe if the Westpac board knew this was coming they would have had some duty to disclose.

Personally, I think it is high time a few chairs and CEOs were criminally prosecuted for their failings.


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