Whitt Awards highlight financial misconduct by HSBC, Optus, and others, costing consumers millions.
The Whitt Awards highlighted financial misconduct in Australia, naming HSBC as the "Wham-Bam-Thank-You Scam of the Year" for failing to protect nearly 950 customers from fraudsters, resulting in $23 million in losses. Optus received the "Rip-Off Award" for selling mobile plans in areas without reception, targeting vulnerable groups. Industry super funds faced criticism for poor service and delays in processing claims. Virtical, a hospitality group, was cited for fraudulently claiming over $20 million in GST refunds. These awards expose the financial industry's failures and their impact on consumers.
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