Australia: ACMA blasts three companies for breaking the law…

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(MENAFN) Three money services businesses have been arrested after marketing their products through spam calls, texts and emails, due to a violation of telemarketing rules. Phoenix Securities, My Alfred and Pineapple Funding are the three companies that have been seized by the Australian Communications and Media Authority (ACMA).

Nerida O’Loughlin, president of the ACMA, said the action was spreading rapidly and that financial services were among the offenders.

Ms O’Loughlin said: “Australians can suffer significant economic harm when financial services companies break the rules”, adding that “people in vulnerable circumstances are particularly at risk when they are unexpectedly offered what looks like easy money or quick loans Stopping this type of illegal marketing is a priority for us.

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