Reported about 23 hours ago
ANZ Bank, one of Australia's largest financial institutions, has agreed to pay a record penalty of 240 million Australian dollars ($160 million) for corporate misconduct affecting nearly 65,000 customers and the federal government. The Australian Securities and Investments Commission highlighted serious breaches, including failure to refund charges to deceased customers and misleading statements about interest rates. This penalty sets a new record for corporate misconduct fines in Australia, surpassing the previous record against Westpac.
Source: YAHOO