Westpac to shift financial crime resources to new hub

Westpac plans to shift its banking fraud and scam operations to a new Parramatta hub, including the relocation of 540 financial crime specialists.

The bank unveiled its new fraud prevention centre in Western Sydney on Tuesday, with eight floors in the Parramatta Square tower to host another 2800 employees.

In a Westpac Wire interview, CEO Peter King said Parramatta “will become the centre from which the bank will continue to intensify efforts to fight back at financial criminals”.

He said the workspace “is an important investment for the bank and the region, by increasing our presence to better serve customers while also creating more employment opportunities in western Sydney.”

The new headquarters will also be home to Westpac business lending and customer support teams.

King said the bank is “doubling down” on its commitment to western Sydney through its precinct investment.

Parramatta Square is situated between Darcy Street and Macquarie Street and includes four commercial towers with 240,000 square metres of new office and retail space around a new 10,000 square metre public domain.