Exetel Fined $694k for Failing to Comply with Laws That Protect Customers from Scammers

ozisaver on 27/08/2025 - 15:28
Last edited 27/08/2025 - 15:40 by 1 other user

Exetel fined $694K for failing to comply with laws that protect customers from scammers.

Scammers were able to gain control of mobile number services and access consumers' bank accounts, with reported losses of at least $412,000.

The financial penalty is the largest to date for contraventions of these rules.

An Australian Communications and Media Authority (ACMA) investigation found the company breached the rules on 73 occasions in June and July 2024 after scammers were able to manipulate its systems to bypass parts of the required identity verification processes.

"This was a sophisticated attempt by bad actors using credentials obtained illegitimately from external sources unrelated to Exetel or its customers," said an Exetel spokeswoman.

"Whilst there was a gap in our mobile number porting process for a short period, we worked quickly to identify and correct that gap by July 2024.

"We apologise for any inconvenience that the impacted consumers may have experienced.

ABC News

Related Stores

Exetel

• 

  FiDad on 27/08/2025 - 15:45

  +8

  Should have fined more

  • 

    theHMASfriendship on 27/08/2025 - 17:25

    +1

    How much more?

    • 

      FiDad on 27/08/2025 - 17:33

      +3

      Lot

• 

  Ave Maria on 27/08/2025 - 18:55

  Tha sad reality is that no part of that fine will be likely used to compensate those that lost money and instead will go straight into Government coffers.

  In the end the Exetel/Superloop customers will pay the fine in increased monthly premiums.

  When Macquarie bank was fined last year, the next thing they did was to slap all no annual fee credit card holders with a $149 annual fee.

  Fines do not work because the cost is always passed back to consumers one way or another.

  • 

    Fredfloresjr on 27/08/2025 - 19:50

    Remember, have to send funds overseas.

• 

  AndyC1 on 27/08/2025 - 20:34

  Superloop has owned Exetel for a number of years, so Superloop was THE company that was really fined.

• 

  Ave Maria on 28/08/2025 - 18:08

  -1

  a bit off topic but also very relevant.

  So because of this article (I already knew Superloop bought/merged with Exetel) I checked the Exetel current plans.

  I am currently on a Superloop 50/20 for $85, about last year I was only paying $59 for the lower plan 25/10 that was still good for my needs, but as they were hiking that price anyway I though I might as well double the speed and pay a little bit more. They hiked the prices twice since.

  In any case I was attracted from the one for all plan from exetel 500/50 for $80 (and I know it does not have a static IP address but I do not really need it). The Exetel AI bot was actually good (I wish I could say the same for the overseas human support Superloop uses), stated that could arrange the switch for me, it would be seameless as Exetel & Superloop are the same company, I will have no connectivity loss, Superloop will be notified about the switch and refund me for any paid & usnused overlaping days and there would be no termination/cancellation penalties. That was all good but as the bot asked me if I wanted to go ahead I said No - I will check with Superloop first. The AI bot understood and said it was a good idea (I was actuallly impressed with their AI bot).

  So next day I logon onto Superloop and initiate a chat, I explain what Iwant to do. Immediately the human told me that as I am switching to a competitor unless I am willing to wait 30 days I will have to keep paying superloop for 30 days from the switch. The human was adamant that Exetel had nothing to do with Superloop. OK so Isaid what I need to do to have a seamless switch as I work from home. The human said you may wait up to 3 days without service. That is when I started loosing my patience and I said as Superloop is so keen to lose customers after 15 years of continuous service and not willing to offer me either a comparable plan/price or waive any fees I am definenetly switching 100%. After checking again the human apologised saying sorry you are right we are the same company let me connect you to our retention team to check facts and see how we can help. After 2 more humans and an hour passed nobody could give me a straight answer. I told them I want their response in writting please send me an email. They agreed and I ended the pointles chat with a non existent customer service that they do not even know who they work for.