Business Services Industry
ANZ, Westpac close Solomon operations.
Australasian Business Intelligence, May, 2003
May 12, 2003 (The Courier-Mail - ABIX via COMTEX)
Australia's Westpac Banking Corporation and ANZ Banking Group have suspended their operations in the Solomon Islands. The banks shut their local branches after threats of violence at an ANZ branch, including a threat to blow the building up. An ANZ spokesman says the threats were linked to the operation of a fraudulent pyramid scheme known as the Family Charitable Fund. The spokesman says the threats came after ANZ officials refused to allow the scheme's operators to open accounts with the bank, fearing such accounts would be used to launder money. ANZ hopes to reopen its branches by 14 May 2003.
Publication Date: 13 May 2003
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