Telstra, TPG and Optus hit with multi-million dollar fines after misleading customers

Three of Australia’s largest telecommunications providers have been hit with multi-million dollar fines after misleading customers about achievable Internet speeds, in breach of consumer law.

Having admitted liability in three separate proceedings instituted by the Australian Competition and Consumer Commission (ACCC), Telstra (ASX: TLS) will pay $15 million in fines, Optus will pay $13.5 million, and TPG (ASX: TPG) will pay $5 million.

The fines are the result of the three companies having made false or misleading representations when promoting some 50Mbps and 100Mbps NBN plans to nearly 120,000 customers.

Read More: https://www.businessnewsaustralia.com/articles/telstra--tpg-and-optus-hit-with-multi-million-dollar-fines-after-misleading-customers.html