ANZ Bank reportedly snared in drugs probe


By John Letzing

SAN FRANCISCO (MarketWatch) — Australia and New Zealand Banking Group Ltd. is reportedly the subject of a police investigation into an alleged drug-trafficking network operating out of its Melbourne office.

Specifically, Australian news reports said that federal police were looking into allegations that a “narcotics syndicate” has been run out of ANZ Bank’s debt-collection department.

Fourteen staff members at ANZ Bank – Australia’s third-largest bank by market capitalization — have reportedly been linked to the alleged drug trafficking.

An ANZ Bank representative did not immediately respond to a request by MarketWatch for comment.

A spokeswoman for the Australian Federal Police said she couldn’t comment, other than to say “a 30-year-old man has been arrested and charged for importing drugs.”

The man was charged Feb. 11, the spokeswoman said, for allegedly importing the drug 4-MMC, or Mephedrone, sometimes known as “meow-meow.”

According to Australia’s The Age newspaper, ANZ Bank spokesman Stephen Ries said some staff members linked to the drugs probe have left the bank, but did not elaborate on reasons why.

“We have been completely shocked by this matter,” the report quoted Ries as saying.

According to an Australian Broadcasting Corporation report, ANZ Bank’s internal email system was allegedly used in the drug trafficking.

John Letzing is a MarketWatch reporter based in San Francisco.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: