Core Viewpoint - ANZ has been fined a total of AUD 2.4 billion (approximately USD 1.6 billion) by the Australian Securities and Investments Commission (ASIC) due to significant misconduct in bond trading and multiple retail business issues, affecting nearly 65,000 customers [1][6]. Group 1: Bond Trading Misconduct - ASIC's investigation revealed that ANZ exaggerated bond trading volumes by "hundreds of billions" and engaged in widespread misconduct [4]. - On April 19, 2023, ANZ assisted the Australian Office of Financial Management (AOFM) in a AUD 14 billion bond issuance but failed to manage market impact appropriately, selling large amounts of 10-year Australian bond futures [2][3]. - ANZ has acknowledged these actions and agreed to pay a fine of AUD 1.25 billion [5]. Group 2: Retail Business Issues - ANZ has been fined a total of AUD 1.15 billion for three separate retail business-related issues [9]. - The first issue involved ANZ's failure to respond to 488 customer hardship notices from May 2022 to September 2024, leading to inappropriate debt collection actions [7]. - The second issue pertains to misleading statements regarding savings interest rates, where ANZ did not fully deliver promised rates to thousands of customers from July 2013 to January 2024 [7]. - The third issue involved ANZ's failure to refund fees to thousands of deceased customers in a timely manner from July 2019 to June 2023, causing difficulties for the relatives of the deceased [8]. Group 3: Overall Penalties and Historical Context - Including the recent penalties, ASIC has initiated eleven civil proceedings against ANZ since 2016, with total proposed and imposed fines exceeding AUD 3.1 billion [10].