Banking

ANZ charged for failure to verify customer identities

The Director of Public Prosecutions, Mr Christopher Pryde, has approved charges against a financial institution under the Financial Transactions Reporting Act 2004. The Australia and New Zealand Banking Group Limited (ANZ) is charged with two counts of failure to verify customer identities contrary to section 4(1) and 39 of the Financial Transactions Reporting Act 2004. It […]

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May 26, 2016 3:48 pm

The Director of Public Prosecutions, Mr Christopher Pryde, has approved charges against a financial institution under the Financial Transactions Reporting Act 2004.

The Australia and New Zealand Banking Group Limited (ANZ) is charged with two counts of failure to verify customer identities contrary to section 4(1) and 39 of the Financial Transactions Reporting Act 2004.

It is alleged that the ANZ failed to verify and properly identify two customers of the bank and established two bank accounts without proper verification of the customer’s identities.

The matter will be called on 7 July 2016 for First Call at the Suva Magistrates’ Court.

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