Watch out: Price‑comparison sites may hide costs and sell your data, warns ASIC

ASIC has warned that some price‑comparison sites mislead shoppers by showing only products that pay the highest fees, not the full market range.

The regulator has already started several court actions. One case targets the comparison platform Choosi, which the Federal Court found misled consumers from mid‑2019 by offering policies almost exclusively from Hannover Life Re and Greenstone Financial Services, despite claiming a broad selection.

Choosi’s penalty has not yet been announced; however, an administrative hearing is set for next Tuesday, according to court filings.

Another action focuses on Clark Family Pty Ltd, a lead‑generation business that runs up to 70 websites. ASIC alleges the sites told users they were comparing many lenders and insurers, while actually selling the inquiries to the highest‑bidding broker.

ASIC commissioner Alan Kirkland explained that listings on these sites are ordered by what providers pay, and that personal data collected during a comparison may be sold for marketing, leading to unwanted calls and emails.

For consumers already coping with high living costs, these practices can mean paying more for insurance or loans and losing control over their private information.

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