Archive · 15 Sep 2025
ANZ to Pay Record $160M Fine for Corporate Misconduct
Imagine a big bank in Australia, ANZ, that didn't always follow the rules.
They did some things wrong, like not giving back money to customers who were owed it and not helping people in need when they asked for help.
They also weren't completely honest about the interest rates they offered.
Because of all this, the bank has to pay a huge fine, the biggest ever given to a single company.
The money goes to the government, and the bank promises to do better to take care of its customers in the future.
ANZ agreed to pay a record $160 million penalty.
The penalty is for corporate misconduct affecting nearly 65,000 customers.
ANZ failed to refund charges to deceased customers.
The bank failed to respond to customer hardship notices, sometimes for over two years.
ANZ made misleading statements about savings interest rates.
- Who
- ANZ bank
- What
- Agreed to pay a record penalty for corporate misconduct.
- When
- Announced on Monday.
- Where
- Australia.
- Why
- For various failures including failing to refund charges, failing to respond to customer hardship notices, and making misleading statements.
- Bank
- ANZ (Australia and New Zealand Banking Group)
- Penalty Amount
- $160 million (AU$240 million)
- Regulatory Body
- Australian Securities and Investments Commission (ASIC)
- Misconduct Type
- Corporate misconduct
- Customers Affected
- Almost 65,000