Labor senator Glenn Sterle has called for Westpac executives to be jailed over the money laundering and child exploitation funding scandal.
He singled out the bank's departing chairman Lindsay Maxsted as an "absolute disgrace", before spraying his colleagues.
"Not one of you have got the intestinal fortitude, let alone the decency, to say 'you know what, we really have got caught with our fingers in the cookie jar'," Senator Sterle told parliament on Wednesday.
"Whether the previous sycophants or human tapeworms or parasites set it up, you oversaw it."
Westpac has been accused of breaking money laundering and counter-terror financing laws 23 million times, with the scandal also claiming the scalp of chief executive Brian Hartzer.
During debate on a bill making it easier to deregister unions and ban officials, Senator Sterle called for urgent legislation for tougher criminal penalties for white collar crime.
"I tell you what should happen to the executives of the Westpac Bank, you should be jailed," the WA senator said.
He also took aim at the federal government's response to the scandal.
"You're looking after these human tapeworms in the Westpac Bank."
Senator Sterle isn't optimistic Treasurer Josh Frydenberg will come down hard on the banks.
"We have the treasurer saying 'Oh, we'll talk to them' or smack them on the wrist, or whack them around the ear with a silk scented scarf," he said.
The Labor senator's rebuke came after the Liberal chairman of federal parliament's economics committee shot down calls to haul in Westpac executives.
Labor frontbencher Andrew Leigh wanted to recall the bank's bosses so they could be grilled about a major money laundering scandal.
But Liberal committee chair Tim Wilson rejected his pleas.
"Frankly, the issues at hand are so serious they should be dealt with by the regulators and not undermined by Andrew Leigh's attempt at a show trial which could prejudice possible legal action," he told Sky News.
The committee heard from Westpac chiefs just a fortnight ago.
"That was before this scandal broke and it was before we had an opportunity to go directly to these issues," Dr Leigh said.
Greens senator Peter Whish-Wilson described the inquiry proposal as a "dog and pony show".
He said ordinary people were asking him why the bank executives were not thrown in jail.
Australian Associated Press