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Two More Australian Banks Settle FX Claims
ANZ and Westpac have both accepted enforceable undertakings (EU) from the Australian Securities and Investment Commission (ASIC) relating to control failures in their global FX businesses. In December, the other two “majors” in Australia, CBA and NAB, each paid AUD 2.5 million after accepting similar charges. Both ANZ and Westpac will both make a “community benefit payment” of AUD 3 million to support the financial capability of vulnerable people including women experiencing family violence, the elderly and youth at risk, ASIC says.

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