Fundo Loans Pty Ltd has paid a $19,800 infringement notice issued by ASIC over an allegedly misleading claim on its website that it offered ‘no credit check loans’ of up to $5,000.

The claim appeared on Fundo’s website from 3 April 2023 until about 19 September 2025. ASIC alleges the claim was misleading because, from at least 1 January 2024, Fundo required all loan applicants to consent to a credit check and conducted credit checks on some loan applications.

Fundo paid the infringement notice on 17 September 2026.

This action forms part of ASIC’s broader focus on misconduct affecting consumers experiencing financial difficulty, including predatory credit practices, and reflects the importance of consumers being able to rely on advertising about key features of credit products.

Background

Fundo holds Australian credit licence no. 491418 and is licensed to engage in credit activities as a credit provider of small and medium amount credit contracts. Fundo characterises its online loans as catering to a broad range of borrowers, including people with less-than-perfect credit histories.

Under section 12GX of the Australian Securities and Investments Commission Act 2001 (Cth) (ASIC Act), ASIC may issue an infringement notice where it believes on reasonable grounds that a person has contravened an infringement notice provision. ASIC issued the infringement notice in relation to an alleged contravention of section 12DB(1)(e) of the ASIC Act, which relates to false or misleading representations in connection with financial services.

Payment of an infringement notice is not an admission of liability.

A copy of the infringement notice is available on ASIC's infringement notices register.