Due to the increase of internet fraud and scams, many people have become wary of carrying out transactions online. Hundreds of Australians become the victims of online fraud each year. This has led the Australian Government to change the existing laws around digital commerce, in the revised Competitions and Consumer Act 2010. The new laws serve to protect individuals from unfair practices, and provide an avenue for people who have been scammed or unfairly treated to seek compensation.
The Competition and Consumer Act 2010 seeks to protect people who take part in e-commerce from deceptive and misleading conduct: in other words, from scams. There are times when information about services and products is falsely presented; resulting in the consumer feeling cheated.
The Competition and Consumer Act 2010 protects consumers from unethical transactions involving commerce and trade, and there is also a clause banning unethical actions with regards to business. Provisions are made for revoking or voiding unfair contract terms.
In addition to fixing issues as they arise, the Competition and Consumer Act 2010 aims to prevent these issues from arising in the first place. The law bans unfair trade and commerce practises, full stop. Of course, there are specific protections governing different forms of business and the way it is conducted. These laws deal with transactions involving goods and services, safety, enforcement of standards, and liability of manufacturers who produce defective items.
The Competition and Consumer Act 2010 makes offenders face the criminal consequences, and makes the necessary enforcements and remedies related to consumer law.