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ACCC says AI, cloud computing pose risks to competition
Competition & Consumer Protection 2025-06-23 11:38 pm By Cindy Cameronne

The ACCC has concluded its five year inquiry into digital platforms, identifying risks to competition posed by AI and cloud computing and again calling for significant regulation to counter “harmful” practices by the likes of Google and Facebook.

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HBSC denies ASIC claims it failed to protect customers from scams
Financial Services 2025-06-20 11:21 pm By Sam Matthews

HSBC has hit back at ASIC’s claims that it failed to protect customers from scams, denying it breached its legislative duties despite admitting some of the regulator’s allegations concerning its compliance with the ePayments code, a voluntary code of conduct.

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NAB pays record penalty for breaches of consumer data sharing scheme
Financial Services 2025-06-19 1:04 pm By Andy Sidler

Big Four bank NAB has paid $751,200 for inaccurate credit data disclosures under the Consumer Data Right rules, the largest penalty to date for breaches of the regulations.

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Tabcorp fined $4M for spamming VIP customers
Gaming 2025-06-19 11:28 pm By Julia Kanapathippillai

Gambling company Tabcorp has been fined $4 million or sending over 5,700 messages to VIP customers that failed to comply with spam laws.

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Optus agrees to pay $100M in ACCC case over unconscionable sales tactics
Competition & Consumer Protection 2025-06-18 3:35 pm By Andy Sidler

Optus has agreed to pay a $100 million penalty in a case brought by the ACCC, admitting the watchdog’s allegations that staff pressured customers into buying phones they couldn’t afford.

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Judge warns ACCC’s privilege fight with Mastercard could ‘spiral out of control’
Competition & Consumer Protection 2025-06-18 11:49 pm By Julia Kanapathippillai

A judge has warned that an interlocutory privilege skirmish in the consumer watchdog’s misuse of market power case against Mastercard could “spiral out of control”.

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ASIC settles case against Hong Kong-based blockchain miner
ASIC 2025-06-18 11:16 pm By Cindy Cameronne

Blockchain mining company NGS Crypto has consented to orders sought by ASIC amid concerns that hundreds of Australians who sank $21.1 million into the business were misled about the safety of their investments.  The Australian Securities and Investments Commission took NGS Crypto Group and its Australian subsidiaries to court, seeking orders winding up the companies,…

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Dubber sues auditors BDO over $26M in alleged missing funds
Professional Negligence 2025-06-17 2:53 pm By Sam Matthews

Software company Dubber has filed a negligence suit against its former auditors, BDO, over $26.6 million in alleged missing company funds and flagged further lawsuits as part of its recovery efforts.

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ACCC to review unsolicited sales practices amid calls for outright ban
Competition & Consumer Protection 2025-06-17 2:00 pm By Sam Matthews

The ACCC has launched a review into unsolicited sales practices in response to the first ‘super complaint’ from a consumer group, which says cold calling and similar practices should be banned.

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PwC report found TerraCom netted $1.1M from inconsistent coal pricing, court hears
Trials 2025-06-16 11:41 pm By Andy Sidler

ASIC has told a court that a PwC report into allegations of inaccurate coal pricing found that 12 “inconsistent” invoices issued by TerraCom resulted in a $1.15 million benefit to the company, contrary to the company’s claim that the audit found no wrongdoing.

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