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Australia’s ANZ to pay record $160 million in fines for systemic failures

ANZ Bank branch in Wellington, New Zealand

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Australia and New Zealand Banking Group (OTCPK:ANZGY) (OTCPK:ANZGF) agreed to pay a record-breaking fine of A$240 million ($159.5 million) for systemic failures and widespread misconduct, following an investigation by the Australian Securities and Investments Commission.

The regulator said that ANZ (

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