Commonwealth Bank Faces $7.5M Fine for Spam Act Breaches
Company Announcements

Commonwealth Bank Faces $7.5M Fine for Spam Act Breaches

Commonwealth Bank of Australia (AU:CBA) has released an update.

The Commonwealth Bank of Australia (CBA) has agreed to pay a $7.5 million fine and entered into an Enforceable Undertaking with the Australian Communications and Media Authority due to breaches of the Spam Act. These breaches included sending customer messages without proper consent or unsubscribe options. To address the issue, CBA is enhancing its compliance systems and will implement recommendations from an independent consultant.

For further insights into AU:CBA stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks Australian Auto-Generated NewsdeskCommonwealth Bank Reveals Capital Adequacy Insights
TipRanks Australian Auto-Generated NewsdeskCommonwealth Bank Reports Strong Quarterly Earnings
TipRanks Australian Auto-Generated NewsdeskCommonwealth Bank Adjusts Stake in Baby Bunting
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App