Singapore Telecommunications’ (Singtel) subsidiary, Optus Mobile, has reached a settlement with the Australian Competition and Consumer Commission (ACCC), says the telco on June 18.
The settlement includes a proposed penalty of A$100 million ($83.4 million) and an enforceable undertaking to implement change in relation to legal proceedings concerning “unconscionable conduct” and “inappropriate sales practices” between August 2019 and July 2023.
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: Singtel’s redeveloped Comcentre to be Singapore’s first AI-enabled, 5G+ connected building
Shares in Singtel closed at $3.93 on June 17.
