The penalty is fully provided for in the previous financial year ended March 31. Optus said it has apologised to affected customers and is remediating them.
In October 2024, the ACCC took Optus to court, alleging that the telco “acted unconscionably” when dealing with 429 consumers.
At the time, the ACCC’s website stated that Optus sold telecommunications goods and services to these consumers "that they often did not want or need, and in some cases then pursuing consumers for debts resulting from these sales.
According to the ACCC, many of these consumers were experiencing vulnerability and, or disadvantage, such as living with a mental disability, diminished cognitive capacity or learning difficulties. They are also financially dependent or unemployed, or have limited financial and legal literacy.
See also: StarHub rolls out ScamSafe to help block scam calls and SMSes
Shares in Singtel closed at $3.93 on June 17.
