Commonwealth Bank Fined for Data Sharing Failures
Update: 2025-12-09
Description
Commonwealth Bank fined $792,000 for data sharing failings: The bank, Australias largest, has been penalized for not properly enabling data sharing for some business customers, preventing them from using secure methods to share financial data with other services. The ACCC, the countrys consumer watchdog, imposed the fine, noting that the bank had overlooked specific account types and received complaints from affected customers. The bank accepts the findings, apologizes, and plans to contact affected customers and strengthen its systems to ensure compliance with consumer data right rules.
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