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ASIC’s new enforcement priorities focus on cost-of-living pressures
Australian regulator’s enforcement priorities include focus on businesses trying to avoid consumer credit protections, and debt management.
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ASIC roundup: Unconscionable conduct, and the need for AI governance
The Australian Securities & Investments Commission’s latest actions and news, October 28 – November 1, 2024.
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New ASIC report showcases increased investigations and civil proceedings
The Commission started more investigations, yet criticism still present as total fines and civil penalties decreased substantially.
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TracFone to pay $16m to settle investigation of data protection failures
The Verizon owned company failed to keep customer data safe during three breaches.
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Meta fined $220m for violating consumer laws and data protection rights in Nigeria
The company was found engaging in repeated conduct of “abusive, and invasive practices” against users in Nigeria.
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ASIC roundup: American Express to pay A$8m penalty, and multiple bannings
The Australian Securities & Investments Commission’s latest actions and news, July 15 – 19, 2024.
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Australian banks to pay back A$28m to low-income customers
ASIC reviewed four big banks all found systemically charging high fees to low-income customers.
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Singaporean banks to strengthen resilience against phishing scams
A digital token will strengthen online security for customers.