Westpac Banking Corp. appointed Colin Carter as the final member of an independent advisory panel that will assess the bank's risk governance and accountability in relation to its money-laundering violations.

The three-member panel will provide its recommendations in regard to money-laundering issues raised by the Australian Transaction Reports and Analysis Centre.

Carter, who is an independent nonexecutive director at Australian property group LendLease Group, joins Ziggy Switkowski and Kerry Schott, who were appointed to the panel in December 2019.