Very true in terms of directors getting away with but it's just the prosecution that's lacking. Bank robbers have the Crimes Act to worry about. Dishonest and deceitful directors have the Corporations Act.
The later also hide behind this concept of "culture". Can you imagine a bank robber's defence successfully arguing that his culture was to blame (namely he came from a family of bank robbers)? No. It's wrong. It's against the law.
No special offence to bank robbers!
Ann: IOOF response to APRA notice and action, page-113
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