Nov 20 (Reuters) - Westpac Banking Corp WBC.AX :
* WESTPAC BANKING CORP - RESPONDS TO AUSTRAC'S STATEMENT OF CLAIM
* WESTPAC BANKING CORP - "THESE ISSUES SHOULD NEVER HAVE OCCURRED AND SHOULD HAVE BEEN IDENTIFIED AND RECTIFIED SOONER"
* WESTPAC BANKING CORP - IMPLEMENTED A RANGE OF ADDITIONAL STEPS IN PROCESSES INCLUDING ENHANCED AUTOMATIC DETECTION SYSTEMS
* WESTPAC BANKING CORP - WILL SHORTLY BE REPORTING A SMALL NUMBER OF REMAINING IFTIS RELATED TO OUR LITEPAY PRODUCT
* WESTPAC BANKING CORP - "IT IS DISAPPOINTING THAT WE HAVE NOT MET OUR OWN STANDARDS AS WELL AS REGULATORY EXPECTATIONS AND REQUIREMENTS"
* WESTPAC - "CONTINUE TO PROACTIVELY ENGAGE WITH AUSTRAC TO CLOSE ANY REMAINING GAPS TO MEET THEIR REQUIREMENTS AS WELL AS OUR OWN EXPECTATIONS"
* WESTPAC BANKING CORP - IN RELATION TO IFTIS, WE HAVE CLOSED ACM PRODUCT AND REPORTED ALL RELEVANT TRANSACTIONS TO AUSTRAC
* WESTPAC BANKING- TAKING VERY SERIOUSLY AUSTRAC'S CONCERNS AROUND APPROPRIATE CUSTOMER DUE DILIGENCE ON TRANSACTIONS TO PHILIPPINES & SOUTH EAST ASIA
* WBC-MOST PAYMENTS WHERE REPORTS WEREN'T GENERATED WERE RECURRING, LOW VALUE PAYMENTS MADE BY FOREIGN GOVERNMENT PENSION FUNDS TO PEOPLE IN AUSTRALIA