Australian Competition and Consumer Commission (ACCC) and the
Australian Securities and Investments Commission (ASIC) have issued a
jointly produced publication, aimed at improving standards in the debt
collection industry: Debt collection guideline: for collectors and creditors
debt collector who breaches the harassment and coercion provisions of
the Commonwealth consumer protection laws risks fines of up to $220,000
for individuals or $1.1 million for a corporation. Similar fines are
risked if a collector is convicted of knowingly making false or
misleading representations (criminal prosecution).
from criminal sanctions, ASIC or the ACCC can seek civil court orders
against a collector, including injunctions against future conduct and
non-punitive orders, such as corrective advertising.
Someone who has suffered loss or damage from a collector’s action may be able to recover their losses in certain circumstances.