Latest news with #ACMA
Time of India
4 days ago
- Business
- Time of India
India Engages China on Rare Earths to Secure Industrial Supply Chain
India is engaged with China both commercially and diplomatically on the issue of rare earth minerals supply and is making all efforts to ensure essential imports, Commerce Secretary Sunil Barthwal said on Monday. The commerce secretary noted that the government is also in touch with industry organisations like SIAM and ACMA for impact on the auto sector. "We're engaged with SIAM and ACMA, facilitating them to have discussions with Chinese counterparts," the commerce secretary said. He noted that China's rare earth move was a global response, and not just against India. The Ministry of External Affairs (MEA) is also in touch with the Chinese government through various diplomatic channels. "We are in touch with the Chinese side, both here in Delhi as also in Beijing to bring predictability in supply chain for trade, consistent with international practices," Ministry of External Affairs Spokesperson Randhir Jaiswal told reporters last week. Commerce and Industry Minister Piyush Goyal recently described China's rare earth export restrictions as a global "wake-up call," emphasising that India is actively building alternative supply chains while positioning itself as a trusted partner for international businesses seeking to reduce their dependence on Chinese suppliers. Speaking to reporters during his official visit to Switzerland, where he met with Swiss government officials and business leaders, Goyal acknowledged that China's export curbs will create short-term challenges for India's automotive and white goods sectors. China's overwhelming control of global rare earth processing - commanding over 90 per cent of the world's magnet production capacity--has created significant vulnerabilities for industries worldwide. These materials are critical across multiple sectors, including automobiles, home appliances, and clean energy systems. Beyond China, there are only a few alternative suppliers. The new Chinese restrictions, effective from April 4, require special export licenses for certain specific rare earth elements and their related magnetic products. Separately, India and Central Asian countries -- Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and, Uzbekistan -- have recently expressed interest in joint exploration of rare earth and critical minerals at the recently held India-Central Asia Dialogue. Rare earth magnets, low in cost but critical in function, could emerge as a key supply-side risk for India's automotive sector if China's export restrictions and delays in shipment clearances persist, according to a report by Crisil Ratings last week. The rating agency said this week that a disruption lasting more than a month can already impact electric vehicle (EV) launches, affect production, and weigh on the sector's growth momentum. Rare earth magnets are integral to permanent magnet synchronous motors (PMSMs) used in EVs for their high torque, energy efficiency and compact size. Hybrids also depend on them for efficient propulsion.
News.com.au
4 days ago
- Business
- News.com.au
Tab fined $4m for sending thousands of text messages
Australia's largest gambling company Tabcorp has been slapped with a $4,003,270 fine after sending its VIP customers thousands of messages over text and WhatsApp without giving people a way to unsubscribe. The Australian Communications and Media Authority (ACMA) found the waging company sent 2598 SMS and WhatsApp messages to its VIP customers in the three months between February 1 and May 1, 2024. ACMA also found that 3148 SMS and WhatsApp messages did not contain adequate sender information across the same period, and 11 SMS messages were sent without consent between February 15 and April 29, 2024. While these messages were sent to VIP customers, ACMA said there was a difference between them and traditional 'high rollers'. ACMA said customers receiving these messages may not have the same means to deal with significant losses. ACMA authority member Samantha Yorke said the breaches were deeply concerning as they involved noncompliance by a large and established gambling provider that targeted VIP program customers. 'This is the first time the ACMA has investigated and found spam breaches in a gambling VIP program,' she said. 'These programs often involve personalised messages offering incentives such as bonus bets, deposit matching, rebates and offers of tickets to sporting and other events. 'The gambling industry needs to understand that spam laws apply to all direct marketing — whether it's generic campaigns or personalised messages.' The spamming occurred before chief executive Gill McLachlan joined the business. In a statement to NewsWire, Tabcorp acknowledged the ACMA's findings. 'Tabcorp is remediating and significantly improving our processes, systems and overall compliance pursuant to an enforceable undertaking, a TAB spokesperson said. 'Tabcorp assisted the ACMA throughout the investigation and will continue to work closely with the regulator to ensure ongoing improved compliance.' Under the Spam Act 2003, businesses must have consent before sending marketing messages. But customers who are sent messages with consent must have a way of unsubscribing should they no longer want to receive the communications. 'When people make choices to unsubscribe from a service they must be able to do so easily and their decisions must be respected by companies,' Ms Yorke said. TAB has also entered into a three-year court-enforceable undertaking, which includes an independent review of its direct marketing systems, quarterly audits of its VIP direct marketing, staff training, and regular reporting to the ACMA.
Perth Now
4 days ago
- Business
- Perth Now
Betting giant fined $4m for spamming VIPs
Australia's largest gambling company Tabcorp has been slapped with a $4,003,270 fine after sending its VIP customers thousands of messages over text and WhatsApp without giving people a way to unsubscribe. The Australian Communications and Media Authority (ACMA) found the waging company sent 2598 SMS and WhatsApp messages to its VIP customers in the three months between February 1 and May 1, 2024. ACMA also found that 3148 SMS and WhatsApp messages did not contain adequate sender information across the same period, and 11 SMS messages were sent without consent between February 15 and April 29, 2024. TAB has been hit with a $4m fine NewsWire / Nikki Short Credit: News Corp Australia While these messages were sent to VIP customers, ACMA said there was a difference between them and traditional 'high rollers'. ACMA said customers receiving these messages may not have the same means to deal with significant losses. ACMA authority member Samantha Yorke said the breaches were deeply concerning as they involved noncompliance by a large and established gambling provider that targeted VIP program customers. 'This is the first time the ACMA has investigated and found spam breaches in a gambling VIP program,' she said. 'These programs often involve personalised messages offering incentives such as bonus bets, deposit matching, rebates and offers of tickets to sporting and other events. 'The gambling industry needs to understand that spam laws apply to all direct marketing — whether it's generic campaigns or personalised messages.' ACMA said TAB did not allow its VIPs an easy option to unsubscribe. NewsWire / John Appleyard Credit: News Corp Australia The spamming occurred before chief executive Gill McLachlan joined the business. In a statement to NewsWire, Tabcorp acknowledged the ACMA's findings. 'Tabcorp is remediating and significantly improving our processes, systems and overall compliance pursuant to an enforceable undertaking, a TAB spokesperson said. 'Tabcorp assisted the ACMA throughout the investigation and will continue to work closely with the regulator to ensure ongoing improved compliance.' Under the Spam Act 2003, businesses must have consent before sending marketing messages. But customers who are sent messages with consent must have a way of unsubscribing should they no longer want to receive the communications. 'When people make choices to unsubscribe from a service they must be able to do so easily and their decisions must be respected by companies,' Ms Yorke said. TAB has also entered into a three-year court-enforceable undertaking, which includes an independent review of its direct marketing systems, quarterly audits of its VIP direct marketing, staff training, and regular reporting to the ACMA.
7NEWS
5 days ago
- Business
- 7NEWS
Betting giant Tabcorp fined $4 million for thousands of breaches of spam laws
The communications watchdog has fined betting giant Tabcorp $4 million for thousands of breaches of spam laws. The Australian Communications and Media Authority found Tabcorp sent more than 2500 messages over text and WhatsApp to VIP customers between February and May 2024 without an option for recipients to unsubscribe. The investigation also found a further 3148 messages in the same period were not sent with information about the sender, while 11 texts were sent without consent. It's the first time the watchdog has found breaches of spam laws in gambling VIP programs. VIP programs often contain personalised messages to members offering incentives such as bonus bets, rebates or tickets to sporting events. The watchdog's Samantha Yorke said the breaches of the spam law were concerning. 'VIPs should not be confused with gambling 'high-rollers',' she said. 'These types of gambling VIP programs can involve customers who are not well off and are experiencing significant losses. 'It is utterly unacceptable that TAB did not have adequate spam compliance systems in place.' Under spam laws, messages must be sent with the option for customers to unsubscribe from the marketing material, with businesses also needing consent. The betting giant has already paid the $4 million fine and has agreed to a three-year court undertaking. In a statement, Tabcorp said it was 'remediating and significantly improving' its processes, systems and overall compliance under a new leadership team. 'Tabcorp assisted the ACMA throughout the investigation and will continue to work closely with the regulator to ensure ongoing improved compliance,' it reads. It will be required to carry out an independent review of its marketing material, run staff training, as well as conduct audits every quarter of its VIP marketing program. 'When people make choices to unsubscribe from a service, they must be able to do so easily and their decisions must be respected by companies,' Ms Yorke said. 'The ACMA will be watching closely to ensure TAB meets its commitments and complies with the spam laws in the future.' In the past 18 months, the watchdog has fined companies more than $16.9 million for breaches of spam laws.
Perth Now
5 days ago
- Business
- Perth Now
Betting giant fined millions for 'VIP' spam splurge
The communications watchdog has fined betting giant Tabcorp $4 million for thousands of breaches of spam laws. The Australian Communications and Media Authority found Tabcorp sent more than 2500 messages over text and WhatsApp to VIP customers between February and May 2024 without an option for recipients to unsubscribe. The investigation also found a further 3148 messages in the same period were not sent with information about the sender, while 11 texts were sent without consent. It's the first time the watchdog has found breaches of spam laws in gambling VIP programs. VIP programs often contain personalised messages to members offering incentives such as bonus bets, rebates or tickets to sporting events. The watchdog's Samantha Yorke said the breaches of the spam law were concerning. "VIPs should not be confused with gambling 'high-rollers'," she said. "These types of gambling VIP programs can involve customers who are not well off and are experiencing significant losses. "It is utterly unacceptable that TAB did not have adequate spam compliance systems in place." Under spam laws, messages must be sent with the option for customers to unsubscribe from the marketing material, with businesses also needing consent. The betting giant has already paid the $4 million fine and has agreed to a three-year court undertaking. In a statement, Tabcorp said it was "remediating and significantly improving" its processes, systems and overall compliance under a new leadership team. "Tabcorp assisted the ACMA throughout the investigation and will continue to work closely with the regulator to ensure ongoing improved compliance," it reads. It will be required to carry out an independent review of its marketing material, run staff training, as well as conduct audits every quarter of its VIP marketing program. "When people make choices to unsubscribe from a service, they must be able to do so easily and their decisions must be respected by companies," Ms Yorke said. "The ACMA will be watching closely to ensure TAB meets its commitments and complies with the spam laws in the future." In the past 18 months, the watchdog has fined companies more than $16.9 million for breaches of spam laws. National Gambling Helpline 1800 858 858
