Summary

This course explores the high-profile Westpac money laundering and child exploitation scandal, offering finance professionals a deep understanding of the compliance failures, red flags, and systemic breakdowns that led to one of the largest financial penalties in Australian history. Participants will examine the regulatory response and extract key lessons to strengthen their own AML and CTF frameworks, with a focus on international transactions, high-risk clients, and ethical responsibilities.

This course is one of several courses within the Certificate in AML Case Analysis. If you wish to achieve this award, you must complete this course along with all other mandatory courses in the associated learning plan.

Audience

Course Objectives

• Understand the details and impact of the Westpac money laundering and child exploitation scandal, and the key compliance failures involved

• Identify red flags and risk indicators that were overlooked and could signal similar risks in other institutions

• Recognise the regulatory obligations and compliance requirements under Australian AML/CTF laws, with an emphasis on international transactions

• Apply lessons learned from the Westpac case to enhance AML and CTF compliance in their own institution

Course Structure

• Section 1: Overview of the Westpac Money Laundering and Child Exploitation Scandal

• Section 2: Regulatory Requirements and Compliance Obligations in Australia

• Section 3: Key Red Flags and Risk Indicators in the Westpac Scandal

• Section 4: Lessons Learned from the Westpac Scandal

• Section 5: Case Studies

• Knowledge Evaluation

Duration & CPD Hours

This course should take you between 45 and 90 minutes, depending upon your pace of learning. Additionally, this course is accredited by The CPD Certification Service and carries 1.5 CPD hours.