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In its day, Wells Fargo has defrauded, allegedly or otherwise: car buyers, retirement savers, mortgage borrowers (time and time and time again), military families, small businesses, ETF Investors, its own investors, foreign-exchange clients, pet owners, Super Bowl champions and affordable housing developers, among, we presume, many, many others.

But, as far as we are aware, Wells limited its scamming to the living. Essentially all of the living, but still. Australia’s Westpac allegedly wouldn’t keep its horizons quite so narrow.

ASIC, Australia's corporate watchdog, said one of the six investigations found the bank had charged more than $7m in fees over a 10-year period to more than 11,000 "deceased customers for financial advice services that were not provided due to their death."

The regulator also said Westpac distributed duplicate insurance policies to more than 7,000 customers, causing customers to unnecessarily pay for two, or more, policies.

Now that sounds like something an Antipodean stagecoach would do! And this rings some familiar bells, too.

The Australian Securities and Investments Commission (ASIC) said Westpac needs to urgently improve its "poor compliance culture".

Westpac: Australian bank pays out over charging dead people [BBC]

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By Eduardo P (Own work) [CC BY-SA 3.0], via Wikimedia Commons

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