Volkswagen (VW) hit with record fine in Australia over emissions scandal

Volkswagen (VW) has been slapped with a record fine by Australia's consumer watchdog to settle lawsuits over the carmaker's global emissions scandal. The A$125m ($86m; £66m) penalty is the highest ordered by a court for breaches of Australian consumer law. VW has been hit with a flurry of legal action since 2015, when it emerged the firm had been cheating emissions tests. Australian regulators have also launched proceedings over VW's consumer loans. The Australian Securities and Investments Commission (ASIC) has alleged in a federal court that VW failed to make proper checks into borrowers' living expenses, or to determine if the loans were unsuitable for them. The allegations relate to 49,380 consumer loans made between 2013 and 2016.

Source: https://www.bbc.com/news/business-50862356