CANBERA (dpa-AFX) - ANZ Group Holdings Limited (ANZ.AX) is under investigation by the Australian Securities and Investments Commission (ASIC) for allegedly miscalculating interest on thousands of customer savings accounts, according to several media reports.
As per the reports, ANZ's retail banking division has enlisted McKinsey & Co to enhance its processes amid an investigation by the Australian Securities and Investments Commission (ASIC) into account payments. ASIC is also scrutinizing the bank's provisions for customers facing financial hardship.
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