News centre

Media release

Experian’s proposed acquisition of illion not opposed

The ACCC will not oppose the acquisition of Credit Data Solutions Pty Ltd (illion) by Experian Australia Credit Services Pty Ltd (Experian).

Media release

Improved transparency lowers international money transfer costs, but switching promises extra $200m in savings per year

While improved transparency has lowered costs for Australian consumers who send money overseas, consumers are still missing out on over $200 million in potential savings, a new ACCC report on international money transfers (IMTs) has found.

Media release

Industry to continue collaborating on cash transit arrangements

The ACCC has granted authorisation with conditions to the Australian Banking Association (ABA), the Customer Owned Banking Association, banks, retailers and other industry participants to allow them to continue developing responses to support the distribution of cash across Australia.

Media release

ACCC update on Tribunal’s decision to authorise ANZ's acquisition of Suncorp

On 20 February 2024, the Australian Competition Tribunal set aside the ACCC’s earlier decision on 4 August 2023 not to grant authorisation for ANZ to acquire Suncorp’s banking business.

Media release

Westpac's proposed acquisition of HealthPoint not opposed

The ACCC will not oppose Westpac Banking Corporation’s proposed acquisition of HealthPoint.

Media release

Australian Competition Tribunal authorises ANZ’s proposed acquisition of Suncorp Bank

The ACCC notes the Australian Competition Tribunal’s decision today to grant authorisation for ANZ’s proposed acquisition of Suncorp’s banking business.

Media release

Bank customers missing out on earning more interest from savings

Consumers are missing out on earning higher interest on their savings due to ongoing barriers to searching for, and switching between, retail deposit products, the ACCC’s Retail deposits inquiry final report has found.

Media release

ACCC denies authorisation for ANZ to acquire Suncorp Bank

The ACCC has decided not to grant merger authorisation for ANZ Banking Group (ASX:ANZ) to acquire Suncorp Group’s (ASX:SUN) banking arm.

Media release

Australian banks allowed to collaborate on development of industry standards to combat scams

The Australian Banking Association Ltd (ABA) and its member banks will be able to participate in discussions to develop an industry standard to prevent, detect, and disrupt scams affecting individual and small business customers, following a conditional ACCC interim authorisation.

Media release

ACCC authorises Armaguard and Prosegur's merger, subject to undertaking

The ACCC has granted authorisation to the proposed merger of Linfox Armaguard Pty Ltd (Armaguard) and Prosegur Australia Holdings Limited and has accepted a court-enforceable undertaking, which is a condition of the authorisation.

Media release

ACCC seeks views on competition and consumer issues affecting Australian savers

The ACCC is calling on banks, bank customers and other interested stakeholders to share their views on competition and consumer issues affecting retail deposit products.

Media release

ACCC seeks further views on ANZ's proposed acquisition of Suncorp Bank

The ACCC has released a statement of preliminary views on ANZ Banking Group’s (ASX:ANZ) proposed acquisition of Suncorp Group’s (ASX:SUN) banking arm.

Media release

Bank impersonation scams robbing Australians of their life savings

Consumers are being warned to be wary of phone calls and texts that appear to be from their bank, following alarming reports of Australians losing their life savings to a highly sophisticated impersonation scam.

Media release

ACCC launches inquiry into deposit interest rates

The ACCC will investigate how banks set interest rates for savers, including differences in interest rate increases between bank deposits and home loans after the Federal Government directed the ACCC to commence an inquiry into Australia’s retail deposit market.

Media release

ING Bank pays penalties for alleged breaches of Consumer Data Right Rules

ING Bank (Australia) Limited has paid penalties totalling $53,280 for allegedly failing to comply with Consumer Data Right (CDR) Rules and making a false or misleading representation to consumers, after the ACCC issued it with four infringement notices.

Media release

iSignthis refused Consumer Data Right accreditation

The ACCC has refused Consumer Data Right (CDR) accreditation to iSignthis Australia Pty Ltd (iSignthis), as the ACCC was not satisfied iSignthis would be able to comply with the obligations of an accredited data recipient under the CDR Rules.

Media release

ACCC begins ANZ, Suncorp merger authorisation review

The ACCC today commenced its formal consideration of ANZ Banking Group’s proposed acquisition of the banking arm of Suncorp. The ACCC received the merger authorisation application on Friday 2 December.

Media release

ACCC launches CDR Sandbox to assist participant design, build and testing

The ACCC has this week launched the Consumer Data Right (CDR) sandbox, a free tool that enables existing and potential CDR participants to better test and improve their CDR solutions, reducing time and cost in the process of becoming an active CDR participant or updating their CDR offering.

Media release

Bank of Queensland pays penalty for alleged breach of Consumer Data Right Rules

Bank of Queensland Ltd has paid a penalty of $133,200 after the ACCC issued it with an infringement notice for allegedly breaching the Consumer Data Right (CDR) Rules by failing to provide a service enabling consumers’ data to be shared.

Media release

Australians are losing more money to investment scams

Australians lost over $205 million to scams between 1 January and 1 May, a 166 per cent increase compared to the same period last year, according to new data from Scamwatch.

Media release

Mastercard in court for alleged misuse of market power over card payments

The ACCC has instituted proceedings in the Federal Court against Mastercard Asia/Pacific Pte Ltd and Mastercard Asia/Pacific (Australia) Pty Ltd (together, Mastercard), for allegedly engaging in conduct with the purpose of substantially lessening competition in the supply of debit card acceptance services.

Media release

Scammers targeting victims again through money recovery scams

Scamwatch is warning people to be aware of uninvited offers of help to recover money for an up-front payment, following a spike in reports of money recovery scams.

Media release

CDPP withdraws charges in bank criminal cartel case

The Commonwealth Director of Public Prosecutions (CDPP) has today withdrawn charges against Citigroup Global Markets Australia Pty Limited (Citigroup), Deutsche Bank AG and four senior banking executives in relation to criminal cartel allegations arising from an ANZ institutional share placement in August 2015.

Media release

NAB's proposed acquisition of Citi's Australian consumer business not opposed

The ACCC will not oppose the proposed acquisition of Citigroup Australia Pty Limited’s Australian consumer business (Citi) by National Australia Bank Limited (ASX: NAB) after a review found the transaction would not substantially lessen competition.

Experian’s proposed acquisition of illion not opposed

Improved transparency lowers international money transfer costs, but switching promises extra $200m in savings per year

Industry to continue collaborating on cash transit arrangements

ACCC update on Tribunal’s decision to authorise ANZ's acquisition of Suncorp

Westpac's proposed acquisition of HealthPoint not opposed

Australian Competition Tribunal authorises ANZ’s proposed acquisition of Suncorp Bank

Bank customers missing out on earning more interest from savings

ACCC denies authorisation for ANZ to acquire Suncorp Bank

Australian banks allowed to collaborate on development of industry standards to combat scams

ACCC authorises Armaguard and Prosegur's merger, subject to undertaking

ACCC seeks views on competition and consumer issues affecting Australian savers

ACCC seeks further views on ANZ's proposed acquisition of Suncorp Bank

Bank impersonation scams robbing Australians of their life savings

ACCC launches inquiry into deposit interest rates

ING Bank pays penalties for alleged breaches of Consumer Data Right Rules

iSignthis refused Consumer Data Right accreditation

ACCC begins ANZ, Suncorp merger authorisation review

ACCC launches CDR Sandbox to assist participant design, build and testing

Bank of Queensland pays penalty for alleged breach of Consumer Data Right Rules

Australians are losing more money to investment scams

Mastercard in court for alleged misuse of market power over card payments

Scammers targeting victims again through money recovery scams

CDPP withdraws charges in bank criminal cartel case

NAB's proposed acquisition of Citi's Australian consumer business not opposed

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