ANZ Faces $7.14 Million Fine over Unlawful Charges to Customers
Regardless of getting red flags from external legal representatives about such charges in July 2011, the bank continued to charge its the’same-name’charges to its customers.The regulator detailed that around 69,000 ANZ clients were impacted by the illegal costs, and the bank swiped around AUD3.1 million($2.21 million ). “The result and charge enforced by the Court is a strong deterrent message and shows ASIC’s position that ANZ did not have legal privilege to charge these specific charges,”ASIC Deputy Chair, Daniel Crennan QC stated.
