To that end, the $1.3 billion fine levied against Westpac for an astonishing 23 million breaches of the anti-money laundering laws is welcome, necessary and in line with national and international expectations. If the penalty is sanctioned by the Federal Court, it will be the single biggest civil penalty imposed on any entity in Australia. That Westpac could have been fined as much as $20 million for each breach of the anti-money laundering laws demonstrates just how seriously regulators here and around the world view the need to stamp out cross-border criminal activity, including financing of terrorism, child exploitation and drug-trafficking.