ANZ admits failing to respond to hundreds of notices about customer hardship, making false and misleading statements about its savings interest rates and failing to pay that amount to customers.

The financial services watchdog also said the big four bank acted “unconscionably” while managing a $14 billion bond deal in services with the federal government as it incorrectly reported bond trading data and overstated volumes by tens of billions of dollars for years.

Even the dead were not spared, with ANZ failing to refund fees to thousands of dead customers and not responding to deceased estates inquiries from loved ones within the required time frame.

“Time and time again ANZ betrayed the trust of Australians,” ASIC Chair Joe Longo said.

“Banks must have the trust of customers and govern

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