Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2025
Fair-dealing law penalty
ANZ agreed to pay a New Zealand Government penalty concerning two alleged breaches of fair-dealing laws occurring between 2012 and 2023.
2019
David Hisco expenses and property controversy
An internal review found that former chief executive David Hisco had charged chauffeur-driven cars and wine storage as expenses without authorisation and had taken steps that made detection less likely. Separately, ANZ had bought an Auckland property and rented it to Hisco without charge before selling it to his wife. Deloitte did not find ANZ wrongdoing in the transaction, but the Financial Markets Authority concluded that the sale should have been disclosed in financial statements.
2019
Reserve Bank capital-controls censure
The Reserve Bank of New Zealand withdrew ANZ’s accreditation to use its internal model for setting capital requirements after persistent failures in controls and attestation processes. A subsequent review identified complacency, weak accountability and inadequate assurance as contributing factors.
Credit-card repayment insurance failures
The Financial Markets Authority alleged that ANZ issued duplicate credit-card repayment-insurance policies and failed to cancel policies for customers who were not eligible. Customers with duplicate policies paid for cover that offered no additional benefit. ANZ apologised, compensated affected customers and faced High Court proceedings.