In a result that sounds suspiciously like a non-prosecution agreement, ASIC has agreed with Hello Lending that it will enter into what amounts to a binding-over for good behaviour for 12 months on AUD15,000 recognisance by lodging a bond for that amount.

The company neither held, nor represented a holder of, a Credit Licence. Even so, the article was very specific, quoting licence number ACL 391330. That licence does exist and is allocated to a company called Cashflow Investments Limited in Brisbane.

The maximum penalty for an individual per criminal contravention is one year imprisonment and/or a fine of AUD25,200. ASIC's action seems to have been directed only at the company and not at any individuals.

ASIC has said “The maximum penalty that can be imposed on a body corporate for a criminal contravention of section 30 is 10 times the maximum individual fine.”

The case has been hanging around since at least early April 2022 when charges were first laid.

Hello pleaded guilty, a second similar charge was withdrawn.