ANZ Bank Slammed with Record Fine Over Misconduct
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Sydney, September 15, 2025 — ANZ Bank has been hit with a record AUD 240 million penalty after regulators found extensive misconduct across its operations, marking the largest fine ever imposed on an Australian financial institution.
Failures across the board
The investigations revealed repeated breaches of trust, including misleading the government during a multi-billion-dollar bond transaction, mishandling hardship notices from struggling customers, charging fees to the deceased, and failing to deliver promised savings rates.
Regulators said these were not one-off mistakes but clear signs of systemic weaknesses in compliance and oversight.
Historic penalty
The fine has been divided between the bank’s institutional and retail businesses. About half relates to serious missteps in bond trading and market dealings, while the rest covers failures that directly harmed ordinary customers.
Officials described the scale of the misconduct as unacceptable, stressing that the fine is intended as both punishment and deterrent.
Bank response
ANZ’s new chief executive, Nuno Matos, conceded the bank had “let Australians down” and vowed to overhaul practices. He pledged tighter compliance controls, faster customer redress, and stronger accountability at senior levels.
The regulator’s chair said the ruling demonstrated a clear message: financial institutions that repeatedly breach the trust of clients and the public will face significant consequences.
Broader impact
The penalty has reignited scrutiny of Australia’s banking sector and the adequacy of existing oversight. Analysts expect ANZ to embark on sweeping reforms, including cultural changes, new auditing processes, and a restructuring of risk management divisions.
The bank also faces the task of rebuilding its reputation among customers and investors, many of whom have expressed frustration at repeated scandals.
Summary: ANZ’s record fine highlights the cost of systemic misconduct and marks a turning point for the country’s financial regulators, who are signaling they will no longer tolerate long-standing failures in governance and customer care.
