Australian Competition and Consumer Commission (ACCC) chairman Rod Sims says that the watchdog intends to seek tougher penalties on big business for malpractice and false advertising.
Mr Sims said that he was puzzled at how some big businesses treated customers “so badly and with so little respect” and signalled the maximum $1.1 million penalty per breach as not being a sufficient deterrent.
The ACCC is currently investigating the difficulties consumers face when trying to exercise their consumer guarantee rights in the new car market and plan to examine the limitations on refunds for inflexible fares in the airline industry.
Another target is the inaccuracy of advertised broadband speeds to consumers.
The ACCC already has court cases for various alleged malpractices involving several big businesses such as Heinz, Volkswagen and Kimberley-Clark and Pental.
What do you think? Should the ACCC be pushing for tougher penalties? Should more resources be diverted towards keeping big business in line?