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Anz agrees to pay a penalty of 240 million dollars after accepting widespread abuse

Anz said he would pay this morning 240 million dollars penalty To solve the Australian securities and investments commission (ASIC) and five abuse.

The Bank incorrectly reported that it was unimaginable in the services provided to the Australian government, exaggerating volumes for tens of billions of dollars and in a widespread abuse of products and services that affect approximately 65,000 customers.

ASIC in question The abuse took place for years and was marked with Anz’s important failure to manage non -financial risks throughout the bank ”. Joe LongoPresident of ASIC, said in a statement:

Anz has repeatedly betrayed the trust of the Australians.

The total penalties on these issues are the largest penalties described by ASIC against an organization, and the seriousness and number of legal violations reflect the repeated failures to correct the vulnerable position and important problems in which Anz puts its customers.

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