Big business facing steep fine increases amid crackdown

The overhaul of fines comes decades after they were first set.

Any fines handed out to corporations were a slap on the wrist and not really regarded as fines but investments toward greater profit. As are Lawyers, Accountants Professional Lobbyists, Media and PR companies.

A strengthening of consumer protections to be introduced to Parliament on Wednesday will raise the maximum fines levied on companies engaging in anti-competitive behaviour from just $10 million, or 10 per cent of their revenue, to $50 million or 30 per cent.

The government will raise the base maximum penalty, unchanged for decades, to stop companies from simply absorbing fines as part of the cost of doing business.

Source: Big business facing steep fine increases amid crackdown

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