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Victoria's gambling regulator has slapped Crown Resorts with $120 million in fines for falling short in its obligation to supervise problem gambling, in what the regulator called "extensive, sustained and systemic failures" spanning 12 years.
The outgoing deputy chair for the Australian Competition and Consumer Commission says Australia “really needs” a new unfair practices law, echoing sentiments from the regulator’s former boss.
Medibank will not pay a ransom to a criminal who stole the data of 9.7 million customers, saying it would encourage extortion.
Fonterra has agreed to shell out $25 million to settle a class action by dairy farmers alleging they were underpaid when Fonterra slashed milk prices and sought a “clawback” in 2016.
The applicants in a consumer class action against Allianz have been ordered to produce an insurance policy that covers them for the risk of losing the case, which the insurer says will inform its bid for security for costs.
The consumer regulator has taken Dell Australia to court for allegedly making misleading statements about the price of add-on monitors that could be purchased with Dell computers during the height of the COVID-19 pandemic.
The Commonwealth Bank of Australia faces trial Monday in one of several class actions filed against a major Australian company in recent years over allegedly lax money laundering practices and disclosures.
The Australian Securities and Investments Commission is targeting predatory lending, greenwashing and crypto-assets as rising interest rates cause consumers to turn to fringe sources of credit.
The chair of the Australian Securities and Investments Commission has warned consumers about investing in “risky, speciality, poorly understood” crypto-assets, as the regulator steps up its investigations into managed funds acting in the space.
Fintech iSignthis has dropped a $464 million lawsuit brought against the Australian Stock Exchange three years ago over allegedly misleading conduct in relation to the suspension of the company's shares.