ANZ's $160 million fine for rule breaches is latest in series of missteps

Core Viewpoint - Australian bank ANZ has agreed to pay a record A$240 million ($159.5 million) in fines due to systemic failures in various operations, including unethical practices in a government bond deal and improper charges [1] Group 1: Financial Penalties - The fine of A$240 million represents a significant financial penalty for ANZ, marking it as a record-breaking amount for the bank [1] - The total amount in US dollars is approximately $159.5 million, highlighting the scale of the financial repercussions faced by the bank [1] Group 2: Systemic Failures - ANZ's failures include acting "unconscionably" in a government bond deal, indicating serious ethical breaches in their operations [1] - The bank also faced issues related to charging customers improperly, which contributed to the systemic failures identified [1]