A sense of the scale of the challenge Westpac and every other financial institution faces under anti-money-laundering laws has so far not been discussed. Westpac is theoretically liable to a maximum penalty of up to $400 trillion. Whether the risk of a potential financial penalty a few hundred times larger than the entire Australian economy is the best way to improve corporate behaviour is likewise something that won't get much talked about. Within a few days there'll probably be calls for yet another inquiry/investigation/royal commission into what's happened. And no doubt there's going to be a whole new series of laws/regulations/rules proposed so that politicians can declare to the public, "I have made sure that this terrible thing will never happen again." If only that were true.