Financial slaps in Australia, a fine of $ 160 million on anz, the largest of which is ever on one entity

The Australian Securities and Investment Committee (ASIC) said the fine was the largest announced by the organizer against one entity.

Anz was fined due to “unreasonable behavior” while managing a $ 14 billion bond deal with the Australian government.

It was also punished due to “lack of response to hundreds of customer hardships,” which introduced wrong or misleading data about interest rates from their savings and their failure to recover the fees imposed on the dead customers.

“Over and repeatedly, Anz betrayed the confidence of the Australians,” said Joe Longo, president of ASIC.

“Banks must have customer and government confidence. This result shows an unacceptable disregard for that confidence that is necessary for the banking system.”

“As one of the largest banks in Australia, customers documented in Anz to do the right thing, but even on the basics such as paying the right interest rate, it exceeds him,” said Sarah Court, a deputy, a deputy, Acek president, said.

Anz besieged, one of the four banks that dominate the financial services industry in Australia, announced last week that it will reduce more than 3,500 employees by September next year, which is part of the restructuring plan that he said would cost more than $ 500 million Australian.

The President of AZ Paul Osoulvan confirmed that the bank agreed to the fines, saying, “The truth is that we have made errors that had a major impact on customers.”

“I apologize and assure our customers that we have taken the necessary measure, including relevant executives,” he said in a statement.

“The failures shown are simply not good enough and enhance the change of change,” added CEO Nuno Matos.