Australian Internet Loans
For Fast, Flexible Online Loans
Australian Internet Loans :: News
SHARE

Share this news item!

ANZ Bank to Pay Record A$240 Million Fine for Regulatory Violations

Landmark Penalty Highlights Compliance Failures at ANZ Group

ANZ Bank to Pay Record A$240 Million Fine for Regulatory Violations?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.

ANZ Group, Australia's fourth-largest bank, has agreed to pay a record-breaking A$240 million fine following investigations by the Australian Securities and Investments Commission (ASIC) into major misconduct.
This penalty underscores the critical importance of compliance and transparency within the financial sector.

The violations include acting unconscionably during a A$14 billion government bond deal in April 2023, which led to A$26 million in lost government funds. ANZ's improper trading practices placed downward pressure on bond prices, undermining government funding efforts. Additionally, systemic customer service failures were revealed, such as charging fees to thousands of deceased customers and failing to deliver promised interest to new account holders due to system flaws.

This settlement marks the 11th civil penalty action by ASIC against ANZ since 2016, with total penalties exceeding A$310 million. The bank has admitted wrongdoing in each case. CEO Nuno Matos has announced plans for major operational changes, with a remediation strategy costing A$150 million due by September 2026. Chair Paul O'Sullivan issued an apology, acknowledging the bank's failure to uphold customer trust.

These developments come amid ANZ's announcement of 3,500 job cuts, prompting legal action from the Finance Sector Union. The settlement still requires Federal Court approval.

For customers and stakeholders, this situation highlights the necessity of vigilance and due diligence when engaging with financial institutions. It also serves as a reminder of the potential consequences of regulatory non-compliance within the banking industry.

Published:Friday, 26th Sep 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Commonwealth Bank Highlights Risks of Surging Home Loan Demand
Commonwealth Bank Highlights Risks of Surging Home Loan Demand
22 Nov 2025: Paige Estritori
The Commonwealth Bank of Australia (CBA), the nation's largest lender, has expressed concerns over the current surge in home loan demand, suggesting it may be contributing to escalating property prices and posing risks to long-term financial stability. CEO Matt Comyn addressed these issues during a recent parliamentary hearing, emphasizing the need for more sustainable credit growth in the housing sector. - read more
Australian Consumer Confidence Rebounds to Optimism After Nearly Four Years
Australian Consumer Confidence Rebounds to Optimism After Nearly Four Years
22 Nov 2025: Paige Estritori
In a notable shift, Australian consumer sentiment has turned optimistic in November 2025, marking the first positive outlook since early 2022. The Westpac-Melbourne Institute survey revealed a 12.8% surge in the consumer sentiment index, reaching 103.8. This level, excluding the pandemic period, represents a seven-year high and indicates that optimists now outnumber pessimists among Australian consumers. - read more
Cyclone Fina Brings Severe Weather to Northern Territory's Top End
Cyclone Fina Brings Severe Weather to Northern Territory's Top End
22 Nov 2025: Paige Estritori
In November 2025, Tropical Cyclone Fina developed in the Arafura Sea, intensifying as it approached Australia's Northern Territory. The cyclone brought destructive winds and heavy rainfall to the Tiwi Islands and the Greater Darwin region, leading to widespread disruptions. - read more
Click for more Finance News



Finance Articles

Importance of Regular Credit Monitoring and How to Do It
Importance of Regular Credit Monitoring and How to Do It
Financial health is crucial in ensuring long-term stability and achieving your life goals. Whether it's buying a house, starting a business, or planning for retirement, a strong financial foundation can make these aspirations attainable. One of the key components of maintaining financial health is regular credit monitoring. - read more
Top Strategies for Managing Your Personal Loan Repayments Efficiently
Top Strategies for Managing Your Personal Loan Repayments Efficiently
Managing your personal loan repayments is crucial to maintaining your financial health. Understanding the importance of staying on top of your loan can help you avoid late fees, reduce stress, and even improve your credit score. - read more
Finding Financial Harmony: Balancing Your Debts and Savings Effectively
Finding Financial Harmony: Balancing Your Debts and Savings Effectively
Financial harmony involves the smooth and balanced management of personal finances, where debts and savings are optimally aligned to achieve financial stability and peace of mind. - read more
This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised credit representative of Saccasan Pty Ltd, Australian Credit License 386297. Visit the ASIC website for additional licensing information.

IMPORTANT: We are neither authorised nor licensed to provide finance or financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party intermediaries, insurers and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for vaidating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.