ANZ Faces Historic Fines for Regulatory Breaches
September 15, 2025 - 06:45
In a significant regulatory action, ANZ has agreed to pay a staggering A$240 million (approximately $159.5 million) due to a series of serious compliance failures. The Australian bank's missteps include acting "unconscionably" in a government bond transaction and improperly charging deceased customers. This hefty fine marks yet another chapter in ANZ's troubled history with regulatory compliance.
The Australian Securities and Investments Commission (ASIC) has previously penalized ANZ for various infractions. Notably, in November 2017, the bank was fined A$10 million for its attempts to manipulate a crucial Australian interest rate on multiple occasions over an 18-month span. Additionally, in February 2018, a Melbourne court mandated a payment of A$5 million due to ANZ's failure to adequately verify customer income in its former Esanda car finance division.
These penalties reflect ongoing concerns regarding the bank's adherence to regulatory standards, prompting calls for more stringent oversight in the financial sector.
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