Tuesday, April 13, 2021

OzTech: NBN to resume HFC orders; ASIC blames system misconfiguration for improper CBA charges; the Nine Network cyberattack

NBN starts taking HFC connection orders in May

NBN Co. has announced that from 24 May 2021 it will begin to take new orders to connect via its hybrid fibre coaxial (HFC) services.

HFC connections were halted in February 2021 due to a global shortage of chipsets. NBN Co. said it has now started to receive the first shipments of HFC modems. NBN Co. is using its warehouse stocks and first deliveries of HFC modems received in March for reconnection orders on top of those premises without a legacy phone or internet service and for medically vulnerable customers.

ASIC takes the Commonwealth Bank to court

The Australian Securities and Investments Commission (ASIC) has alleged that “inadequate or improperly configured” systems were some of the reasons that led the Commonwealth Bank of Australia (CBA) to improperly charge customers for almost a decade.

ASIC also alleges that manual errors were part of the issues that resulted in almost $55 million in fees charged to nearly 1 million customers who were entitled to fee waivers.

CBA confirmed the issue, which occurred between 1 June 2010 and 11 September 2019, and has issued remediation payments of $64.2 million — including interest — to those affected.

ASIC has filled the case in the Federal Court but CBA said it will fight the case despite accepting the error and having issued remediation payments as “it does not accept the way that the alleged contraventions have been formulated in the proceedings”.

Copyright © 2021 IDG Communications, Inc.

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