CBA Pays $7.5 Million Fine for Spam Act Breaches

The Commonwealth Bank of Australia (CBA) has agreed to an amended Enforceable Undertaking with the Australian Communications and Media Authority (ACMA) and paid a $7.5 million fine for breaching provisions of the Spam Act. Between November 2022 and April 2024, CBA incorrectly classified a significant number of electronic customer messages, resulting in some being sent without consent or a functional unsubscribe option.

CBA has been working closely with the ACMA and continues to review its systems and processes. Leif Gamertsfelder, appointed as Executive General Manager of Customer Communications Review, will lead efforts to ensure compliance with the Spam Act. An independent consultant will provide recommendations to improve CBA's procedures, policies, and training.

CBA stated, "We are committed to strengthening our compliance framework and ensuring all communications meet regulatory standards."