In June 2021, Westpac uncovered an alleged multi-million dollar fraud perpetrated by Sydney leasing company Forum Finance. Forum, led by Bill Papas, is accused of creating fake lease agreements for non-existent equipment, resulting in losses exceeding $500 million for Westpac and other banks. The case is nearing judgment in October 2024, with potential consequences for Forum-linked companies and individuals, including Papas who fled the country.
