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ANZ Bank Faces Record A$240 Million Fine for Regulatory Breaches

Regulatory Crackdown Sees ANZ Hit with Unprecedented Penalty

ANZ Bank Faces Record A$240 Million Fine for Regulatory Breaches?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

In a significant development within the Australian banking sector, ANZ Bank has agreed to pay a record-breaking A$240 million fine following a series of serious regulatory breaches.
This penalty, imposed by the Australian Securities and Investments Commission (ASIC), underscores the importance of compliance and transparency in financial operations.

The breaches encompass a range of misconducts, including misleading the government during a A$14 billion bond deal, neglecting to act on customer hardship notices, and failing to refund fees to deceased clients. These violations highlight systemic issues within the bank's operational and compliance frameworks.

Over the past eight years, ANZ has faced multiple penalties for various infractions:

  • November 2017: A$10 million for attempting to manipulate interest rates.
  • February 2018: A$5 million for inadequate income verification in car financing.
  • October 2020: A$10 million for improper non-payment fees.
  • October 2022: A$25 million for failing to provide agreed benefits to customer accounts.
  • September 2023: A$15 million for misleading credit card customers about available funds.
  • March 2023: A$10 million for accepting information from unlicensed home loan introducers.
  • December 2023: A$900,000 for failing disclosure rules in a major share sale.

This latest fine is the largest ever imposed on ANZ, reflecting growing regulatory scrutiny and the need for robust compliance measures within financial institutions. For consumers, this serves as a reminder to remain vigilant and informed about the practices of their financial service providers.

At Internet Loans Australia, we prioritize transparency and integrity in all our dealings. We encourage our clients to stay informed and choose financial partners who uphold the highest standards of ethical conduct.

Published:Thursday, 25th Sep 2025
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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