Update: 15 July 2020 – Rewritten to correct some of my own views and information.
I concede this is more of an unquantified feeling at this stage and this post will likely be added to or otherwise edited…
While Australia has both Consumer and Retail investor Protection regulatory frameworks in place, the supervision and enforcement of I feel of is rather weak and probably weaker than anyone, even Australians actually realise. This extends to their financial sector as well In terms of retail investments and retail banking. Continue reading “Australian Consumer Protections + Regulatory frameworks”→
Update: 31 July 2020 – Have decided to halt pursuing this matter temporarily given the re-escalation of the situation around COVID-19 in Australia. However, I am still not sufficiently satisfied with the explanations given by either party (ProductReview and the company of the listing in question) and fully intend to be following this matter up with the ACCC and NSW Fair Trading after the COVID-19 situation abates.
This blog post originally documented in detail some personal concerns I had regarding the validity of ProductReview.com.au’s claims, in particular it’s claim of “independence” made via their trust centre if they also happen to supply paid services to the businesses being reviewed on their site. The matter originated from coming across what I feel were some fairly sizeable anomalies (that were too large to simply casually ignore) on a listing during what was intended to be a casual visit to the site.
To add… Looks like someone from a corporate IP address belonging to the company of the listing in question has also been seen frequenting this site (according to the certIficate attached to the IP). If they could please kindly respond to my last private message on ProductReview once they see this or via this form here, it would certainly be appreciated. Thanks.
Update: 20 July 2020 – 21:33 NZST Response has now been sighted, Thanks.