Australia’s biggest telecommunications provider, Telstra, has admitted it breached consumer law and could face a penalty of up to $50 million. Key points: Telstra stores in regional and remote communities sold more than 100 vulnerable people phone contracts they could not afford The company has admitted to unconscionable conduct and the ACCC has taken action in the Federal Court It is likely to result in a significant financial penalty, and Telstra’s annual report suggests the fine could be up to $50 million The telco has reached an agreement with the Australian Competition and Consumer Commission (ACCC) after the watchdog completed an 18-month investigation into Telstra’s conduct. The investigation found Telstra had been selling mobile phone products and plans to consumers who did not understand and could not afford them. ACCC chair Rod Sims told the ABC he was shocked by what investigators found out. “This is huge. This is right off the scale in terms of behaviour we have taken to court in relation to telecommunications,” he said. “We must be sending messages to companies that this sort of behaviour cannot be going on.” The inquiry was launched after serious concerns were raised by a number of financial counsellors in rural… Read full this story
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