Westpac confesses to charging thousands of deceased customers, ASIC sues
The Australian Securities and Investments Commission (ASIC) has launched legal action against Westpac regarding allegations of “poor systems, poor processes and poor governance”. The filings also address claims that Westpac charged over 11,000 deceased customers for advice fees. ASIC has filed six court cases against Westpac for alleged maladministration impacting customers. Westpac has since admitted…