The ACMA has issued a formal warning to Gold Coast-based property investment company Investors Choice Group for telemarketing without adequately identifying itself at the start of calls.
An ACMA investigation found Investors Choice Group provided a shortened name at the start of some calls that was inadequate for call recipients to be able to identify the financial advisory business.
Under the Telemarketing Industry Standard a caller must begin telemarketing calls by clearly stating the company name or registered business name of the entity that initiated the call.
The investigation followed complaints from members of public who had received the calls. The ACMA had alerted the business to its potential compliance issues on several occasions before opening the investigation.
This formal warning reinforces the need for businesses to clearly identify themselves as soon as a telemarketing call starts.
This action is part of our priority to target unlawful financial services marketing. Over the past 18 months, businesses have paid $3,380,160 in penalties for breaching spam and telemarketing laws. We have also accepted 13 court-enforceable undertakings and given 6 formal warnings.
