Australia: Issued ruling in ACMA investigation into Medion regarding non-compliance with customer identification rules

On 26 October 2023, the Australian Communications and Media Authority (ACMA) issued a ruling in the investigation into Medion Australia Pty Ltd (Medion) concerning non-compliance with customer identification rules. The ACMA ruled that Medion must pay a fine of AUD 259'440. The ACMA found that Medion failed to comply with customer identification rules, specifically customer verification checks, leading to several instances of SIM-swap scams and over AUD 160'000 in financial losses for the victims. In addition to the financial penalty, Medion has committed to a two-year court-enforceable undertaking to appoint an independent consultant to review its compliance with the customer ID rules and to make necessary improvements. Medion is also required to regularly report its progress to the ACMA. Medion must pay the fine within 28 days.