Commonwealth Bank and CommSec fined for underpaying workers as new laws criminalize wage theft in Australia.

Commonwealth Bank and CommSec were fined $10.3 million for underpaying 7,000 workers by $16 million. As of January 1, intentionally underpaying workers is now a criminal offense, with fines up to $7.8 million or three times the underpaid amount, up to 10 years in prison, or both. The Australian Council of Trade Unions claims up to one million workers are affected by underpayments.

January 01, 2025
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