Exhibit 99.1
ASX Release23 December 2020Update regarding ASIC’s AUSTRAC-related investigationLevel 18, 275 Kent Street Sydney, NSW, 2000Following the civil proceedings commenced by AUSTRAC in the Federal Court of Australia on 20 November 2019, ASIC commenced an investigation into matters related to the AUSTRAC proceedings. APRA also commenced an investigation into matters related to the AUSTRAC proceedings and potential contraventions of the Banking Act 1959 (Cth) (including the Banking Executive Accountability Regime) and subsequently delegated certain enf orcement powers to ASIC in connection with its investigation.ASIC has today inf ormed Westpac that it has concluded the investigation and that it does not intend to take any enf orcement action against Westpac or any individuals in connection with the investigation.For further information:David Lording Andrew Bowden Group Head of Media Relations Head of Investor Relations 0419 683 411 0438 284 863This document has been authorised f or release by Tim Hartin, General Manager & Company Secretary.