The Citizen (Gauteng)

More trouble for Oz company

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Sydney – Australia’s biggest listed wealth manager, AMP, charged life insurance premiums to dead customers even after concerns over the practice were raised by a staff member, a powerful misconduct inquiry heard yesterday.

The disclosure­s at the inquiry heaps pressure on the financial institutio­n, which revealed it had charged thousands for financial advice it never gave, then doctored an independen­t report.

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