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Tradie platform Hipages admits using ‘subscription traps’
ACCC 2023-05-30 11:05 pm By Gareth Baker Sydney

Online home improvement platform Hipages has admitted that it likely engaged in misleading or deceptive conduct by failing to disclose contract terms that allowed it to automatically renew subscriptions and charge early termination fees.

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Crown to pay $450M to settle AUSTRAC case
Allens 2023-05-30 12:59 pm By Christine Caulfield

Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator’s serious breaches of the anti-money laundering and counter-terrorism financing laws.

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ACCC tells ‘fake local’ florists to get out of town
ACCC 2023-05-29 11:37 pm By Gareth Baker Sydney

The ACCC has brought proceedings against a national flower retailer for allegedly adapting its websites and google ads to deceive online customers into believing they were a local florist. 

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ASIC lifts stop order on Humm’s buy now, pay later products
ASIC 2023-05-29 11:07 pm By Gareth Baker Sydney

The Australian Securities and Investments Commission has revoked an interim stop order against Aussie fintech Humm Group, which had been preventing the company from selling its buy now, pay later product to new customers.  Humm revealed the news in an announcement on Monday, only days after the order was issued out of concerns around the…

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SkyCity Adelaide must appoint expert to review AML/CTF programs
AUSTRAC 2023-05-29 2:50 pm By Cindy Cameronne Sydney

The South Australia gambling commissioner has directed SkyCity Adelaide to appoint an independent expert to review its anti-money laundering and counter-terrorism financing programs after AUSTRAC alleged it allowed $4 billion in suspicious transactions at its casino.

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ASIC hits pause on Humm’s buy now, pay later products
ASIC 2023-05-26 3:07 pm By Gareth Baker Sydney

The Australian Securities and Investments Commission has hit fintech Humm Group with an interim stop order barring it from issuing buy now, pay later products to new customers.

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Sydney fraudster Melissa Caddick dead, coroner finds
ASIC 2023-05-25 12:35 pm By Sam Matthews Melbourne

The New South Wales deputy state coroner has concluded that accused conwoman Melissa Caddick is dead, but questions remain about the circumstances of her death.

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Ex-Continental Coal director sentenced for directors’ duty breach
ASIC 2023-05-23 11:59 pm By Gareth Baker Sydney

A former director of defunct mining and exploration company Continental Coal has been sentenced to eight months’ imprisonment for failing to act in good faith in performing his directors’ duties in relation to $1 million in bridging finance.  

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Personal assistant of alleged fraudster Chris Marco faces charges
ASIC 2023-05-19 4:13 pm By Christine Caulfield

A former executive assistant of accused Ponzi schemer Chris Marco is facing charges linked to an alleged $29.5 million fraud against investors.

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AMP hit with $24M penalty for ‘unconscionable’ practice of charging dead customers
AMP 2023-05-19 12:16 pm By Christine Caulfield

A judge has ordered two AMP units to pay a total of $24 million after finding the wealth manager acted unconscionably in charging insurance premiums and advice fees to deceased customers.

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