Australian Securities and Investments Commission v Westpac Banking Corporation [2026] FCA 651
In ASIC v Westpac Banking Corporation [2026] FCA 651, the Federal Court imposed a $26 million penalty for systemic failures in Westpac’s online financial hardship processes. The decision highlights the need for end-to-end complaint capture, reliable system controls, timely hardship decisions and effective protection against premature enforcement.
