FILE PHOTO: An office building with Westpac logo is seen amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. Picture taken June 3, 2020. REUTERS/Loren Elliott/File Photo
July 2, 2021
(Reuters) – Westpac Banking Corp said on Friday that it started legal proceedings against Forum Finance after it discovered a potential fraud regarding equipment leases arranged by the financial services provider for the lender’s customers.
Australia’s no. 2 bank has a potential exposure of around A$200 million ($149.22 million) after tax with the extent of loss depending on the outcome of an investigation into the alleged fraud, it said in a statement.
($1 = 1.3403 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru, Editing by Sherry Jacob-Phillips)
