“We ... will be looking closely at the Australian findings and if they have relevance for Westpac NZ," said Reserve Bank of New Zealand deputy governor Geoff Bascand in a statement.

Australian regulator AUSTRAC has accused Westpac, Australia's second-largest bank and parent company to a New Zealand subsidiary, of 23 million breaches of anti-money laundering rules.

(Reporting by Charlotte Greenfield; Editing by Tom Hogue)