Chief Executive Officer of the Australian Transaction Reports and Analysis Centre v Westpac Banking Corporation [2020] FCA 1538

Federal Court of Australia

Chief Executive Officer of the Australian Transaction Reports and Analysis Centre v Westpac Banking Corporation [2020] FCA 1538 File number(s): NSD 1914 of 2019

Judgment of: BEACH J

Date of judgment: 21 October 2020

Date of publication of reasons: 22 October 2020

Catchwords: CORPORATIONS – Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) – pecuniary penalties – failing to give reports of international funds transfer instructions (IFTIs) to AUSTRAC – failing to pass on transfer information and payer information to another institution in relation to ITFIs – preliminary risk assessments and due diligence assessments in respect of correspondent banking relationships – joint anti-money laundering and counter-terrorism financing program – requirements of Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (Cth) – failing to conduct appropriate ongoing customer due diligence – child exploitation material – contraventions of ss 36(1), 45(2), 64(6) and (7), 81(1), 98(1) and (2) and 115(2) of the Act – fixing of a pecuniary penalty under s 175 of the Act – declarations – orders made

Legislation: Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) ss 3, 36, 41, 45, 64, 70, 81, 82, 83, 85, 98, 115, 175, 178 Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No.1) (Cth) rr 9.1.3 to 9.1.5, 9.6.5, 9.9.1, 15.5

Cases cited: Australian Building and Construction Commissioner v Construction, Forestry, Maritime, Mining and Energy Union (Syme Library Case) (No 2) [2019] FCA 1555 Australian Competition and Consumer Commission v Australian Safeway Stores Pty Ltd (1997) 145 ALR 36 Australian Competition and Consumer Commission v Cement Australia Pty Ltd (2017) 258 FCR 312 Australian Competition and Consumer Commission v Coles Supermarkets Australia Pty Ltd (2015) 327 ALR 540 Australian Competition and Consumer Commission v Hillside (Australia New Media) Pty Ltd t/a Bet365 (No 2) [2016] FCA 698 Australian Competition and Consumer Commission v Leahy Petroleum Pty Ltd (No 3) (2005) 215 ALR 301 Australian Securities and Investments Commission v Commonwealth Bank of Australia [2020] FCA 790 Australian Securities and Investments Commission v Westpac Banking Corporation (No 3) (2018) 131 ACSR 585 Chief Executive Officer of the Australian Transaction Reports and Analysis Centre v Commonwealth Bank of Australia Limited [2018] FCA 930 Chief Executive Officer of the Australian Transaction Reports and Analysis Centre v TAB Limited (No 3) [2017] FCA 1296 Commonwealth v Director, Fair Work Building Industry Inspectorate (2015) 258 CLR 482 Markarian v The Queen (2005) 228 CLR 357 Pattinson v Australian Building and Construction Commissioner [2020] FCAFC 177