The Herald Sun reports that up to 14 former staff over at Australia and New Zealand Banking Group (ANZ) are under investigation for involvement in a narcotics syndicate which was allegedly based in the bank's debt-collection department.
According to the newspaper, the staff - many of whom were either fired or resigned earlier this year for abusing ANZ's e-mails policies - have been under investigation by the Australian Federal Police for several months.
The bank is said to have only been made aware of the alleged goings-ons over in the unit after police tipped off the firm's officials.
A bank spokesperson said: 'We have zero tolerance for this type of behaviour (no kidding), and none of the staff linked to this investigation are with ANZ any longer. We are treating the matter very seriously, and have been doing everything we can to assist the police'.
One trader told Here Is The City: 'I always thought those debt-collection types were a bit dodgy. People like me get a bad press over drugs, but at least we only do the odd line - and even then, we usually do it in our own time!'.