ANZ Banking Group
(ASX:ANZ) is under investigation over an alleged drug ring that’s suspected to have been operating out of a Melbourne branch.
The Herald Sun reports that a probe conducted by the Australian Federal Police is now into its third month and as a result 14 employees have lost their jobs.
The newspaper says that seven staff are suspected of drug dealing, while a further seven are alleged to have purchased illegal substances.
The bank's internal email servers have been studied as part of the investigation following allegations that employees used code words to buy and sell drugs.
The Herald also says that the drug probe has been focused on certain staff working at the collections department in ANZ's Collins Street city office before they moved to South Melbourne earlier this year.
An ANZ spokesman has told the newspaper that the bank is treating the matter very seriously and is cooperating fully with the police.
ANZ posted a $2.9 billion net profit in 2009.
