ASIC warns shoppers that comparison sites may hide limited provider choices

ASIC commissioner Alan Kirkland warned that comparison websites frequently prioritize products based on payments from providers, which can give shoppers an incomplete view of the market. The Federal Court recently ruled that Choosi misled users for four years by promoting a narrow set of funeral and life insurance policies, all supplied by Greenstone Financial Services. A separate case against Clark Family Pty Ltd alleges that up to 70 of its sites claimed to compare multiple lenders while actually selling inquiries to the highest-bidding broker.

Kirkland urged Australians to consult several platforms and scrutinise privacy terms, noting that data can be resold for telemarketing. He emphasized that false or misleading representations by such sites will trigger enforcement action under strong Australian consumer laws.