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BANKING ON AIYAZ KHAIYUM FOR SWEET REVENGE? ANZ charged for alleged financial misconduct after CEO Vishnu Mohan was told to resign 

26/5/2016

11 Comments

 

Fijileaks: We will publish a copy of bankruptcy order that was prepared by ANZ and was to be published in Fiji Sun against Aiyaz Sayed Khaiyum

“We have had discussions with the RB [Reserve Bank of Fiji]. In fact we have had discussions with the Governor of the RBF couple of days ago and I think they have liaised with one agency that exists by the name of Data Bureau. So as soon as the Act comes into effect from tomorrow, they will have to hand over all the existing data to RBF which will then quarantine that information...All information about an individual’s credit history [Khaiyum means his and that of Faiyaz Koya] which until today was stored by the Data Bureau must be surrendered to the Reserve Bank tomorrow – never to be used again. Fijians applying for credit or buying on hire purchase won’t have their credit report accessed via Data Bureau anymore.” - Aiyaz Khaiyum on Fair Reporting of Credit Act which comes into effect on 27 May 2016

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ANZ charged under Financial Transactions Reporting Act 2004

The Director of Public Prosecutions, Mr Christopher Pryde, has approved charges against a financial institution under the Financial Transactions Reporting Act 2004.

The Australia and New Zealand Banking Group Limited (ANZ) is charged with two counts of failure to verify customer identities contrary to section 4(1) and 39 of the Financial Transactions Reporting Act 2004.

It is alleged that the ANZ failed to verify and properly identify two customers of the bank and established two bank accounts without proper verification of the customer’s identities.

The matter will be called on 7 July 2016 for First Call at the Suva Magistrates’ Court.
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ANZ Bank Fiji and Vishnu Mohan were darling of Aiyaz Khaiyum signing many sweetheart deals - so why charge NOW?
Agreement formalises registration system
Fiji Times
Saturday, July 04, 2015


GOVERNMENT has signed an agreement with ANZ Bank Fiji to streamline processes that will make business registration easy.
Attorney-General and Minister for Finance Aiyaz Sayed-Khaiyum said this was all part of improving the ease of doing business. The bank forged a relationship with Government in Suva yesterday after its application was approved through a tender process.

"We need to capitalise on the huge amount of interest in Fiji. If we don't capitalise on it now we can actually miss the boat and this is very critical for everyone within the different sectors including banks, employees and employer organisations and so on to take advantage of this opportunity and Government is very keen to do this," Mr Sayed-Khaiyum said at the Grand Pacific Hotel.

He said Government was looking forward to further its relationships with the bank. Government is also perusing through Investment Fiji's application with a view to launching it next week. He said this was a one-window application for foreign investors that will allow for approval by the Companies Office, Reserve Bank of Fiji, Investment Fiji, Immigration and Fiji Revenue and Customs Authority.

"Through that one-window application you will have all those approval in place. You can make your payment online, whichever country you're sitting in," he said. Government is also working on software that will be able to make the Registrar of Titles Office processes come online by the end of the third quarter of this year. ANZ Fiji CEO Vishnu Mohan said the signing would make applications and processes simple.

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11 Comments
Pita
26/5/2016 08:39:05 am

ANZ has been charged. Congratulations to the DPP. Now that the matter is before the Courts it is sub juficae to comment. I should say that I did raise some issues on this site about a similar investigation of ANZ currently underway in Australia. All I can say is Mohan should not need to be asked to step down as PSC Chair

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Dekho
26/5/2016 09:05:04 am

Pita, is Mohan indispensable as PSC Chair? What miracle has he performed in that position? 4.5 decades after independence doesn't Fiji have a capable person to assume that position, instead of having an expatriate Sr Lankan installed in that civil service governing body?

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Justice
26/5/2016 09:12:28 am

No wonder why ASK scrapped data bureau. It was him and Koya who were the culprit and mostly affected by Data Bureau. Through Fijileaks were came to know only 45 complaints were lodge against Data Bureau in 15 years. ASK
False Information Act should be used by DPP to charge ASK for falsifying its income that he stated to Supervisor of Elections. Whats the delay DPP in charging ASK? Further Qiliho is investigation people for posting on social media why not charge assneel sudhakar for threatening victor lal. All double standard decrees and acts just to enforce ASK agenda. God save Fiji

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Pity for Bureau
26/5/2016 10:33:46 am

Data Bureau should have sold the data to an offshore company prior to it taking effect. That way it need not hand over data to Reserve Bank.

It is not their fathers property as the data has a commercial value attached to it.

Then the data can be excessed by companies offshore who then advises companies in Fiji of their recommendations to credit account!!!

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Joe
26/5/2016 10:38:20 am

its amazing what corrupt people will do to stay in power.
They kept saying "we are doing this for the people". but Everything they do is for their own betterment.
ASK is a master con-artist. I wish a media outlet would just publish all evidence against ASK, his lies and manipulation, for the whole of Fiji to see.

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Bad credit
26/5/2016 11:02:49 am

Victor pls publish the Bankruptcy documents of Fijis pin-up Boy ...

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Stupid hobbit
26/5/2016 11:11:14 am

A stupid post. The charges against ANZ is on the bank allowing 2 people to open bank accounts without proper checks. Most probably people using the bank for money laundering purposes.

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Banker
26/5/2016 12:02:00 pm

Stupid Hobbit, really!

Yes, why now - after Vishnu Mohan was told by ANZ headquarters to resign over many unauthorized dealinsg with Aiyaz Khaiyum and the Government

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Pita
26/5/2016 12:48:34 pm

Deckhouse I am sorry. What I wanted to say is Vishnu Mohan should not have to be asked to step down but should do so on the basis of his own conscious.
As for ANZ, the root cause of the problem both in Australus and in other branches was its performance and bonus based systems. They encouraged staff to bend and even ignore the rules to write up new business.
It led to shonky practises. ANZ senior shareholders dumped their CEO and senior executives like Mohan as they carried too much baggage. The bank wanted to start with a clean slate.
I suspect Khaiyum realised the deep s--t ANZ was in too late after he had already appointed him Chair of the PSC and needed an exit strategy after the s--t hits the fan when ANZ is convicted in Australia of dishonest practises. These token charges would deflect attention from his extremely poor decision to appoint Mohan in the first place

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Dekho
26/5/2016 11:51:44 pm

How come some people can get removed from their positions quite unceremoniously and humiliatingly in Fiji even when they are doing effectively what their positions require them to do eg Professor Biman Prasad as Chair of the Public Accounts Committee? And, how come for others who are tainted we have to politely ask them to step down " on the basis of ( their ) conscious"?
Plain double standards and hypocrisy, isn't it?

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Bad hair day
26/5/2016 08:44:47 pm

Aarre Victor, what do you have against us? Why do you keep punishing your readers eyes by repeatedly publishing that picture of Nur and company in that ridiculous Arab garb. Let me tell you this lot are NOT a sight for sorry eyes. Please stop the torture.

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