28 August 2023 - ASIC focuses on protecting vulnerable consumers and small businesses in 23-24

ASIC will take further enforcement action to protect Australian consumers and small businesses in an environment where scams, digitally-enabled misconduct and predatory lending practices are increasingly prevalent.

Releasing ASIC’s latest Corporate Plan, ASIC Chair Joe Longo said the plan follows a year of progress against the organisation’s strategic priorities and strong enforcement outcomes in 2022-23.

ASIC demonstrated strong enforcement outcomes throughout 2022-23, continuing to deliver as an active and effective regulator. Over the three years to 30 June 2023, we commenced over 125 criminal actions, resulting in 92 criminal convictions and 39 custodial sentences. In the same period, we commenced close to 200 civil actions, resulting in over 130 successful civil claims. More than $500 million in criminal and civil penalties were also imposed by the courts.