The Banking Code Compliance Committee (BCCC) sanctioned the Bank of Queensland (ASX:BOQ) over its failure to "identify, stop, and refund" fees on deceased clients' accounts, according to a statement from BCCC released Friday.

The breaches were committed between 2019 and 2023 and totaled AU$158,834 in overcharged fees and interest.

The banking watchdog said Bank of Queensland had "widespread failures" in its processes for managing the said fees and that the bank's systems were inadequate.

In response to the breaches, the BCCC sanctioned the Bank of Queensland by naming it and publishing the details of its non-compliance on the regulator's website.

The BCCC said the Bank of Queensland fully cooperated throughout the probe, which started in mid-2023 and involved two other banks.

Bank of Queensland did not immediately respond to a request for comment from MT Newswires.