January 18, 2018 / 3:33 AM / a year ago

ANZ, regulator reach settlement on suspected frauds affecting Esanda customers

Jan 18 (Reuters) - Australia and New Zealand Banking Group said on Thursday it has reached a settlement with Australia’s corporate regulator on cases where car finance brokers engaged in suspected fraud when submitting loan applications on behalf of customers to its former unit Esanda between 2013 and 2015.

ANZ has agreed to pay a fine of A$5 million ($3.98 million)as part of the settlement and A$390,000 of the costs of the Australian Securities and Investments Commission, the company said in a statement. ($1 = 1.2564 Australian dollars) (Reporting by Shashwat Pradhan in Bengaluru; Editing by Richard Borsuk)

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