Dec 9 (Reuters) - Westpac Banking Corp WBC.AX :
* UPDATES ON AUSTRAC MATTER
* CO AND AUSTRAC APPEARED IN FEDERAL COURT FOR A CASE MANAGEMENT HEARING IN RELATION TO PROCEEDINGS COMMENCED BY AUSTRAC ON 20 NOVEMBER 2019
* NEEDS TO HAVE SYSTEMS AND CONTROLS IN PLACE TO PREVENT ITS SERVICES BEING EXPLOITED FOR FINANCIAL AND OTHER SERIOUS CRIME
* COURT ADJOURNED MATTER TO BE FURTHER LISTED FOR A CASE MANAGEMENT HEARING IN LATE FEBRUARY OR EARLY MARCH 2020
* IS IMPLEMENTING ITS RESPONSE PLAN
* DETERMINED TO LIFT ITS STANDARDS AND ENSURE ITS ANTI-MONEY LAUNDERING AND OTHER FINANCIAL CRIME PROCESSES MEET ITS OBLIGATIONS
* MADE NUMBER OF CHANGES TO ITS TRANSACTION MONITORING, CONTINUING TO REVIEW PROCESSES & REPORT TO AUSTRAC OF SUSPICIOUS MATTERS IDENTIFIED