Can you trust online financial product information?
As more and more consumers turn to the internet for this information they may not be aware of the limitations of these websites, said Katherine Lane, principal solicitor at the Consumer Credit Legal Centre NSW.
Late last year, the Australian Securities and Investments Commission issued a warning about the comparison websites. The regulator said comparison websites with misleading or inaccurate information could steer consumers towards unsuitable or more expensive products.
Yet more people are searching the internet for information on financial products and financial tips. A poll of more than 1200 adults found that 56 per cent had reviewed at least one financial product during the past year, with many saying they switched as a result
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