Consumers are “generally unaware” of the extent to which data firms and third parties mine and utilise their data, according to a report by the Australian Competition and Consumer Commission.
Former BitConnect national promoter John Louis Bigatton has pleaded guilty over his role in marketing the online cryptocurrency platform, a global Ponzi scheme that reached a market capitalisation of $5 billion before its collapse.
SkyCity has agreed to pay $67 million to resolve AUSTRAC proceedings alleging it allowed $4 billion in suspicious transactions and failed to carry out diligence on high-risk customers.
Pizza Hut has paid $2.5 million in penalties for breaching spam laws when it sent more than 10 million unsolicited marketing messages to customers.
The Australian Competition and Consumer Commission has expressed concerns that France-based Louis Dreyfus’ proposed acquisition of ASX-traded cotton gin operator Namoi Cotton could substantially lessen competition and lead to higher prices for ginning services.
A judge that tossed two shareholder class actions against the Commonwealth Bank of Australia has found the bank did not have to alert investors to the possibility of AUSTRAC proceedings, saying investors did not expect to be apprised of the “toings and froings” of regulatory investigations.
The Australian Securities and Investments Commission is investigating ANZ’s dealings in its role as risk manager of 10-year government treasury bonds worth $14 billion.
A group of DP World workers previously found to have been “blindsided” by their dismissal for refusing a mandatory COVID-19 jab have failed in a bid to appeal a decision that found their reinstatement inappropriate.
A law firm investigating a group proceeding against non-bank lender Latitude over a data breach last year has called on the information commissioner to give an update on a related class action-style complaint.
A former senior manager at Deloitte terminated for alleged inappropriate conduct in the workplace has lost her bid to bring an unfair dismissal claim out of time, despite the Fair Work Commission finding her case had merit.