The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Noel Ambler - Gold Coast - Analyst
: Good morning, Chairman. And first thing, congratulations on the Board appointing new CEO and obviously, the Board supporting him. That's
a bit of a change from the previous question, isn't it?
Question: Noel Ambler - Gold Coast - Analyst
: However, recently, my business and quite a few other small businesses, and individuals had their accounts frozen by the KYC team.
Question: Noel Ambler - Gold Coast - Analyst
: It didn't really answer the question. However, it continues. This was done -- our accounts frozen after receiving an e-mail thanking us for
supplying information previously requested. One of the internal procedures and oversight mechanisms ANZ follows that fail to prevent the
second unwarranted account freezing on June 18, especially considering assurance was given after the first incident that the action would
never happen again.
And how does ANZ account for the failure to document prior resolutions and assurances within the KYC system. Before you answer, it gets
worse. The action of freezing our accounts was taken on pay day. How does ANZ propose to provide adequate compensation for the costs
and significant stress caused by freezing the account on a staff payroll day, specifically addressing appreciate the financial distress potentially
being caused to over 50 staff members, many of whom live week to week and rely on their pay day to meet essential commitments, house
payments and living expenses and rent, et cetera.
And what compensation is offered to our personal staff member who transferred money from our own personal account into the wages
account so those staff would be paid. Does ANZ acknowledge the enormous reputational damage. Given the actions, as you said earlier,
were instituted under the anti-money laundering Act, and the reputation that our business could have suffered if those staff had not been
paid.
And the inference was it was caused by our business money laundering. After all the correspondence, which I have addressed to ANZ on
this matter, it's been totally ignored. So which director can I speak to after the meeting today and have a further chat?
Question: Noel Ambler - Gold Coast - Analyst
: Thank you, Mr. Chairman. I already did write you and unfortunately, didn't seem to get through.
Question: Noel Ambler - Gold Coast - Analyst
: Thank you, Mr. Chairman. I look forward to a response, especially with this new, what was it again, customer first from Nuno.
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