Latitude Financial fined again for massive spam violations. The Australian finance company broke the law 2.7 million times and received a $3.98 million penalty from ACMA, averaging just $1.50 per breach. This marks the second major fine in four years, following a $1.5 million penalty in 2022. Despite the violations, shareholders showed minimal concern with the stock dropping only 1 percent. CEO Bob Belan earned $3.6 million last year, an 18 percent increase during the spam year. The fine appears trivial compared to Commonwealth Bank's $700 million penalty for anti-money laundering breaches at $13,000 per violation. Latitude announced it will hire an independent expert to review compliance processes, raising questions about enforcement effectiveness and corporate accountability in Australia's financial sector.
