ACCC proposes to authorise Australian banks to develop standards to combat scams
The ACCC proposes to grant authorisation with conditions until 30 June 2024 for Australian Banking Association Ltd (ABA) and its member banks.
ACCC
Mastercard becomes accredited data recipient under Consumer Data Right in Australia
ACCC, featured, Mastercard
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Mastercard Asia Pacific Pte. Ltd. is now an accredited data recipient under the Consumer Data Right in Australia.
Australian regulator sweeps social media to identify misleading testimonials by influencers
ACCC, Facebook, featured, Meta, social media, social media influencers
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The ACCC has this week started a sweep to identify misleading testimonials and endorsements by social media influencers.
ACCC commences ANZ, Suncorp merger authorisation review
ACCC, ANZ, featured, Suncorp
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The ACCC today commenced its formal consideration of ANZ Banking Group’s proposed acquisition of the banking arm of Suncorp.
Australian Court issues prison sentences for AUD/VND exchange rate fixing
ACCC, featured, Vina Money
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The sentences relate to price fixing of the AUD/VND exchange rate and the transaction fees charged to customers who were sending money.
Australians lose over $2 billion to scams in 2021
ACCC, Australia scams, featured, Scamwatch
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Australians lost a record amount of more than $2 billion to scams in 2021, the ACCC’s latest Targeting Scams report reveals.
Australians lose over $205M to scams in first five months of 2022
ACCC, featured, investment scams, Scamwatch
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Australians lost over $205 million to scams between 1 January and 1 May 2022, a 166% increase compared to the same period last year.
ACCC takes action against Mastercard for alleged misuse of market power over card payments
The ACCC is suing Mastercard for allegedly engaging in conduct that substantially lessens competition in the supply of debit card acceptance services.
ACCC takes action against Meta for publishing scam crypto ads on Facebook
ACCC, crypto ad, Facebook, Meta
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The ACCC alleges that the ads, which promoted investment in cryptocurrency, were likely to mislead Facebook users.
Australian CDPP abandons charges in bank criminal cartel case
ACCC, cartel, CDPP, Citigroup, Deutsche Bank
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The CDPP has withdrawn charges against Citigroup, Deutsche Bank AG and four senior banking executives.
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