Consumer advice

Easier comparisons now available for foreign currency conversions

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.

Changes needed to protect consumers using customer loyalty schemes

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.

Safety review of baby bouncers, rockers and inclined sleep products

The ACCC will today begin a safety review of products designed for infants such as bouncers, rockers and inclined sleep products.

The market review will be on inclined baby products used for sleeping, where the baby’s head and back are inclined, and may include a harness or belt to secure the baby into the product.

The United States Consumer Product Safety Commission has reported that at least 74 infant fatalities have occurred in the United States while using bouncers, rockers and recliners.

Australian businesses hit hard by email scams

Australian businesses reported more than 5800 scams with losses exceeding $7.2 million in 2018, a 53 per cent increase compared to 2017, according to the ACCC’s Targeting scams report.

Much of this increase is due to the $3.8 million reported lost to sophisticated ‘business email compromise’ scams. When combined with losses reported to the Australian Cybercrime Online Reporting Network, these scams cost Australian businesses over $60 million.

Consumers with disability - where to go for advice or complaints

This factsheet is for consumers with disability and their carers and support networks. It will help you find the right place to go if you need advice or have a complaint.