Australia news live: ANZ bank fined $240m for ‘widespread misconduct’ in regulator Asic’s biggest ever penalty
Asic said the misconduct occurred over many years. Follow today’s news liveGet our breaking news email, free app or daily news podcastThe ANZ penalties are the largest ever imposed by Asic against one entityThe penalties must be approved by the federal court, but Asic said their size reflects the...
<p>Asic said the misconduct occurred over many years. Follow today’s news live</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p><strong>The ANZ penalties are the largest ever imposed by Asic against one entity</strong></p><p>The penalties must be approved by the federal court, but Asic said their size reflects the gravity of the misconduct.</p><p>While we have worked hard to get regularity certainty on these matters, the reality is we made mistakes that have had a significant impact on customers. On behalf of ANZ, I apologise.</p><p>Time and time again ANZ betrayed the trust of Australians.</p><p>The total penalties across these matters are the largest announced by ASIC against one entity and reflect the seriousness and number of breaches of law, the vulnerable position that ANZ put its customers in and the repeated failures to rectify crucial issues.</p> <a href="https://www.theguardian.com/australia-news/live/2025/sep/15/australia-news-live-updates-albanese-png-climate-crisis-defence-rooftop-solar-power-energy-politics-ntwnfb">Continue reading...</a>
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