<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Federal Court has hit ANZ with an extra $10 million fine on top of a record $240 million penalty for years of "unconscionable conduct".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The Australian Securities and Investments Commission said the bank's widespread misconduct and systemic failures affected the Australian government, taxpayers and at least 65,000 retail bank customers.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The corporate regulator found the bank mismanaged $14 billion bond deal on behalf of the federal government, failed to refund fees charged to thousands of dead customers and ignored hundreds of customer hardship notices.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/bondi-beach-shooting-investigations-continue-into-terrorist-father-and-son-phillipines-trip/44fb98ca-1bb0-484d-b790-5b895d7a633a" rel="" target="_blank" title=""><strong><span>Inside the Akrams' $22 a night Philippine hotel</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The watchdog also found the bank made false and misleading statements about savings interest rates.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The outcome of the four separate court proceedings </span><a href="https://www.9news.com.au/national/anz-agrees-to-240-million-dollar-fine-over-misconduct/326f0162-61d6-4afd-8046-39f9e4192875" rel="" target="" title="was announced in September"><span>was announced in September</span></a><span>. , under which ANZ agreed to pay ASIC's costs plus a $240 million fine – the largest ASIC had ever secured against a single entity.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, the Federal Court ruled today that the figure ANZ must pay should be even higher, imposing a total fine of $250 million against the big four bank.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/anz-fine-big-four-bank-hit-with-additional-10-million-fine-in-federal-court-of-australia/4e4498ea-72a4-4143-9185-fc5abed47bba" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>ASIC chair Joe Longo said ANZ "is a critical part of Australia's banking system" that "must do better".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The size of the penalties ordered today underscores the seriousness of ANZ's misconduct and its far-reaching consequences for the government, taxpayers and tens of thousands of customers," Longo said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"ANZ must overhaul its non-financial risk management and put the interests of clients, customers and the public first.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/christmas-day-2025-weather-forecast-bureau-of-meteorology-australia/df4ba481-c3f4-4621-8ac0-7e8132c32e5a" target="_blank"><strong><span>Official Christmas Day forecast revealed</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"In the bond trading and misreporting matter, ANZ exposed the Australian government to a significant risk of harm, denied the government an opportunity to protect itself and the public interest, and misled the government for nearly two years by overstating bond trading volumes by billions of dollars.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"ASIC estimates ANZ's trading misconduct cost up to $26 million, reducing funds that could have supported essential public services."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>ASIC deputy chair Sarah Court said tens of thousands of customers suffered from systemic failures.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"ANZ will also pay for misconduct that made an already difficult time far harder for hundreds of its customers who were experiencing hardship or dealing with the loss of a loved one," Court said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This outcome sends a clear message to ANZ that it needs to do better by its customers and to all banks that the cost of breaking the law is not an acceptable cost of doing business."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In a statement, ANZ said it is "focused on significantly improving its management of non-financial risks across the bank, with a dedicated program of work underway as part of its root cause remediation plan". </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"In addition, ANZ has established an ASIC matters resolution program within Australia retail to meet commitments to ASIC to deliver improvements across a number of areas in its retail division." </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS 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