ACCC Chair Rod Sims addressed the Committee for Economic Development of Australia (CEDA) to discuss the ACCC's enforcement and compliance policies for 2022-23.
The ACCC is urging consumers buying flowers this Valentine’s Day to ask where their flowers are coming from and make sure they are not being misled into thinking large ‘order gatherers’ are locally-based florists.
People who use foreign currency conversion (FX) services now have greater access to accurate online calculators to help compare prices, but the ACCC says greater transparency is still needed at a time when many Australians are sending money to family and friends overseas.
The ACCC’s Foreign currency exchange services inquiry report, released in September last year, found many Australian consumers were paying too much for FX services.
Improvements to customer loyalty schemes and broader legislative reforms are required to protect consumers using loyalty schemes, according to the ACCC’s final report into customer loyalty schemes released today.
The report recommends loyalty schemes, such as frequent flyer, supermarket and hotel operators, better inform consumers, improve their data practices and stop automatically linking members’ payment cards to their loyalty scheme profiles. It also calls for broader changes to consumer and privacy law.
Customer loyalty schemes, including frequent flyer, supermarket and credit card operators, must ensure they are not misleading consumers according to an ACCC draft report released today for comment.
The ACCC’s Customer Loyalty Schemes draft report highlights a number of concerns:
Australian consumers are paying too much for foreign currency conversion (FX) services because of confusing pricing and a lack of robust competition, a new ACCC report has found.