MELBOURNE – One of Australia’s largest banks said Monday it agreed to pay a record 240 million Australian dollars ($160 million) in penalties for corporate misconduct affecting almost 65,000 customers and the federal government.

Melbourne-based ANZ , also known as Australia and New Zealand Banking Group, and the Australian Securities and Investments Commission said in statements they will ask a federal court to endorse the penalties for four separate prosecutions.

Recommended Videos

The fines would set a new record amount imposed on a single entity for corporate misconduct by the ASIC, the national company and financial services regulator. The previous record was AU$113 million ($75 million) imposed on the Sydney-based bank Westpac for widespread compliance failures in 2022.

“Th

See Full Page