Westpac caught fleecing $10 million by charging 11,000 dead customers for “financial advice”. Zero charges laid by regulator ASIC despite 88,000 legal breaches.

Westpac avoided being called to front the banking Royal Commission’s hearings on superannuation after falsely presenting itself as a “white knight” to government officials behind-the-scenes.

The man in charge of Treasurer Frydenberg’s office was running corporate affairs at Westpac’s BT when the superannuation giant was aggressively covering-up a major scandal.

Superannuation regulator ASIC has taken no action to stop Westpac-BT fleecing $4.5 million a day from super members - nine months after it was formally told of the scandal.

Westpac, has been aggressively recruiting prosecutors, lawyers and investigators from among the corporate regulator’s top brass, with at least 10 former senior ASIC figures in its ranks.

Westpac Group has failed to disclose to the ASX revelations that its superannuation and “wealth” arm BT is engaging in wholesale gouging of its customers - while ASX does nothing.