Westpac's Maxsted spends six hours in stocks at AGM

Fri, 13 Dec 2019

Westpac chair Lindsay Maxsted spent more than six hours responding with mea culpas as angry shareholders fired questions at him yesterday.The bank's annual meeting was village justice in a modern-day corporate setting, with Maxsted in the stocks.Shareholders were angry about accusations lodged by Australia's anti-money laundering agency AUSTRAC last month accusing Westpac of processing more than 23 million transactions in breach of anti-money laundering and counter-terrorism finance laws, including facilitating transactions enabling child explo...

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