The Australian Securities and Investments Commission has received a AUD 19,800 infringement notice payment from Fundo Loans Pty Ltd over an allegedly misleading website claim that it offered loans of up to AUD 5,000 with no credit checks. The claim appeared from April 3, 2023, until about Sept. 19, 2025, although Fundo required all applicants to consent to a credit check and conducted checks on some applications from at least Jan. 1, 2024. Fundo, a licensed provider of small and medium amount credit contracts, paid the notice on Sept. 17, 2026. Payment does not constitute an admission of liability. The action forms part of ASIC’s focus on misconduct affecting consumers in financial difficulty, including predatory credit practices.
2026-09-21Australian Securities & Investments Commission
Australian Securities and Investments Commission receives AUD 19,800 payment from Fundo over alleged no credit check loan claim
Fundo Loans paid an AUD 19,800 ASIC infringement notice over an allegedly misleading claim that it offered loans of up to AUD 5,000 with no credit checks. Fundo required all applicants to consent to a credit check and checked some applications, while payment of the notice does not constitute an admission of liability.