Banks in Australia are issuing $19 million in refunds to low-income customers. The move follows an investigation by the Australian Securities and Investment Commission, which said in a Monday (July 15) press release that it determined four of the country’s banks “systemically charged high fees...
Australia’s federal court has ruled that a term in PayPal’s contract for local small businesses is unfair. The reason, the court ruled Friday (July 5) is because the contract terms allowed PayPal to retain fees it had erroneously charged if the small business failed to...
The Australian Securities and Investments Commission (ASIC) has sued the FinTech company Block Earner for allegedly offering cryptocurrency investments without a license. “Block Earner offered a range of fixed-yield earning products based on crypto-assets under the names USD Earner, Gold Earner and Crypto Earner (collectively,...
The Australian Securities & Investment Commission (ASIC) has reported an increase in the volume of investment scam reports by investors and consumers in Australia amid the pandemic, according to a press release. ASIC indicated that misconduct complaints received by the body from March to May...
December 16, 2024
Banking giant HSBC is facing a lawsuit in Australia over alleged fraud-prevention failures. The Australian Securities and Investments Commission (ASIC) announced Monday (Dec. 16) that it was suing HSBC Australia, accusing the bank of failing to have proper controls to identify and stop unauthorized payments. “We allege HSBC Australia’s failings were widespread and systemic, and […]
July 15, 2024
Banks in Australia are issuing $19 million in refunds to low-income customers. The move follows an investigation by the Australian Securities and Investment Commission, which said in a Monday (July...
July 05, 2024
Australia’s federal court has ruled that a term in PayPal’s contract for local small businesses is unfair. The reason, the court ruled Friday (July 5) is because the contract terms...
November 23, 2022
The Australian Securities and Investments Commission (ASIC) has sued the FinTech company Block Earner for allegedly offering cryptocurrency investments without a license. “Block Earner offered a range of fixed-yield earning...
