ANZ fined A$240m after admitting to engaging in unconscionable conduct

This is the biggest combined penalty on one entity issued by the ASIC, and reflects “the seriousness and number of breaches of law.”

Australia and New Zealand Banking Group Limited (ANZ) has received a record combined penalty of A$240m ($160m) for widespread misconduct which occurred over many years.

The Australian Securities & Investments Commission (ASIC) found that ANZ engaged in unconscionable conduct in services it provided to the Australian Government, including reporting

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