ANZ Bank launched and was widely applauded for a New Zealand campaign featuring Indian immigrants, which showcased a narrative of a father and son with mixed cricketing loyalties. The campaign is recognized for promoting multicultural unity and reinforcing shared national identity.

On April 3, 2025, APRA accepted a Court Enforceable Undertaking from ANZ Bank to address persistent weaknesses in its non‑financial risk management practices and risk culture, including issues in its Global Markets business. As part of the undertaking, APRA increased the capital add-on from $750 million to $1 billion until ANZ demonstrates effective remediation.

APRA has imposed a $1 billion capital penalty on ANZ Bank following an investigation that uncovered widespread cultural issues including bullying, substance abuse, and managerial negligence within its markets division. The audit raises concerns about internal practices affecting employee wellbeing and overall business ethics, prompting calls for new leadership to address these failings.

ANZ Bank is under investigation by ASIC for allegedly manipulating government bond sales by inflating trading figures and engaging in futures market trades to secure government mandates. The misconduct, part of which involves misrepresenting $137.6 billion in bond trades versus actual figures of $83.2 billion, raises serious ethical questions and could cost taxpayers millions in extra interest payments.

In 2022, ANZ Banking Group allocated $50,000 in political donations to the Australian Labor Party, marking a distinct political contribution favoring a progressive party relative to industry peers who largely supported coalition parties.

In November 2021, ANZ Bank became the first large commercial bank to launch a Grievance Mechanism Framework, providing a pathway for communities harmed by its financing practices to seek justice. The move follows recommendations from Australia’s OECD National Contact Point after a complaint regarding a Cambodian sugar company, marking a significant step towards corporate accountability in human rights.

In its 2021 Modern Slavery Statement, ANZ detailed extensive measures to mitigate modern slavery risks in its operations and supply chains. Initiatives include paying a living wage to direct and indirect employees, rigorous supplier due diligence, comprehensive supplier contracts with modern slavery clauses, and training programs to boost awareness and compliance. These efforts highlight ANZ’s commitment to ethical business practices and the protection of human rights.

A Friends of the Earth Australia report revealed that ANZ Bank, along with other major banks, financed companies implicated in land grabs, deforestation, and child labor, raising serious concerns over its ethical financing practices and due diligence in supply chain management.

During its AGM in Perth on December 19, 2018, ANZ chairman David Gonski defended the bank's policy of making political donations to both the Liberal and Labor parties as a means to 'support democracy'. Disclosures revealed that the bank contributed equal sums to both parties, a strategy presented as a balanced approach to political engagement.

A government report from the Australian Treasury division found that ANZ Bank failed to meet its own human rights standards when it financed a Cambodian sugar plantation linked to forced evictions, child labour, and workplace deaths.

An Oxfam Australia report reveals that ANZ Bank financed a sugar plantation in Cambodia linked to serious human rights abuses, including child labour, military-backed land grabs, forced evictions, and food shortages.