ANZ to Pay Record $240 Million Fine After Bond and Retail Banking Misconduct

Cases cover false bond data, misled savers, ignored hardship notices, and fees on deceased estates.

Signage for Australia and New Zealand Banking Group Ltd. (ANZ) is seen at a branch in Sydney, Australia on Feb. 26, 2024. Lisa Maree Williams/Getty Images

ANZ will hand over $240 million (US$160 million) in penalties after admitting to a string of misconduct cases that span its institutional and retail banking divisions.

The settlement with the Australian Securities and Investments Commission (ASIC) marks the largest fine imposed on a single company in the regulator’s history.