From asic.gov.au: ASIC issued two infringement notices totaling $37,560 to Chapter Two Holdings Pty Ltd for misleading statements regarding debt management outcomes on its website, claiming the company falsely stated it had wiped $80 million in debt and saved consumers $30 million in interest.

These misleading claims were removed on 14 March 2024, and any failure to pay the remaining fines may lead to further civil penalty proceedings.

ASIC requires accurate representation of services in the debt management sector, which is an enforcement priority for 2025, with collaborative efforts with the Australian Financial Security Authority.