Australia’s Federal Court has ordered ANZ Bank and the Macquarie Group to pay AS$9 million and AS$6 million respectively for attempts by the banks’ traders to rig a key benchmark rate in Malaysia’s foreign exchange markets, reports the Sydney Morning Herald (SMH).

The fines are reportedly the result of an Australian Competition and Consumer Commission (ACCC) legal action against the banks over alleged private online chat room conversations in 2011 between the banks’ Singapore-based traders.

The traders were alleged to be trying to influence the daily fixing of a price for forward contracts of Malaysian ringgit.