Australia's competition watchdog said on Wednesday that Singapore Telecommunications-owned (STEL.SI) Optus has reached a settlement over allegations of 'unconscionable conduct' in selling telecom goods and services to hundreds of consumers.
The settlement includes a A$100 million ($64.85 million) fine, the Australian Competition and Consumer Commission (ACCC) said in a statement, adding that the federal court is yet to determine whether the penalty is appropriate.
"Many of these consumers who were vulnerable or experiencing disadvantage also experienced significant financial harm. They accrued thousands of dollars of unexpected debt and some were pursued by debt collectors, in some instances for years," ACCC Deputy Chair Catriona Lowe said on Wednesday.
Optus has also signed an undertaking that it will compensate impacted consumers and improve its internal systems, including reviewing its complaint handling and improving staff training, according to the regulator.
($1 = 1.5420 Australian dollars)
