ANZ drags its heels on identity fraud compo

A County Court judge ordered ANZ Bank to pay $33,000 compensation to a Victorian customer after the bank allowed someone else to open an account in her name following the theft of a cheque from the mail. Two con-artists opened another account at ANZ using fake identity documents, and deposited the $65,000 cheque into the new account. The newspaper identified the perpetrator as the same man convicted of more than a hundred fraudulent loan applications against Commonwealth Bank last week. ANZ froze the victim’s account after it became suspicious about the pattern of withdrawals. By that time, the offenders had their hands on half the money. ANZ first offered to pay $5000 in compensation to their customer, and then doubled the offer to $10,000.

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