Australia Court Fines Retail Store Harvey Norman Holdings & Latitude Finance Australia $38 Million (AUD 55 Million) for Misleading Advertising Campaign in 2020 & 2021 with 60-Month Interest Free & No Deposit Payment for Goods Purchased at Harvey Norman Stores, Customers Required to Use Latitude GO Mastercard with Monthly Account Service Fees
28th July 2026 | Hong Kong
An Australia court has fined retail store Harvey Norman Holdings & Latitude Finance Australia $38 million (AUD 55 million) for misleading advertising campaign in 2020 & 2021 with 60-month interest free & no deposit payment for goods purchased at Harvey Norman stores. Customers are required to use Latitude GO Mastercard with monthly account service fees. Announcement (28/7/26): “The Federal Court today imposed penalties of $35 million against Harvey Norman Holdings Ltd and $20 million against Latitude Finance Australia for misleading conduct and false or misleading representations they made in a national advertising campaign promoting a 60-month interest free and no deposit payment method for goods purchased at Harvey Norman stores. The combined penalty is one of the highest obtained by ASIC for misleading conduct and false or misleading representations relating to financial products and services. The advertisements were published and broadcast thousands of times across Australia between January 2020 and August 2021 in newspapers, on radio and on television and would have been viewed by millions of Australians. ASIC was concerned the advertisements masked that consumers were required to take out a credit card, such as the Latitude GO Mastercard, to purchase goods, and were liable to pay monthly account service fees and, up to 15 March 2021, also establishment fees.” More info below:
“ Australia Court Fines Retail Store Harvey Norman Holdings & Latitude Finance Australia $38 Million (AUD 55 Million) for Misleading Advertising Campaign in 2020 & 2021 with 60-Month Interest Free & No Deposit Payment for Goods Purchased at Harvey Norman Stores, Customers Required to Use Latitude GO Mastercard with Monthly Account Service Fees “
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ASIC Chair Sarah Court: “The substantial penalties and the corrective advertising orders imposed on Harvey Norman and Latitude is a significant outcome for consumers and sends a strong warning to the market about the importance of truthful and transparent advertising. This case is about integrity in consumer finance marketing. Consumers were entitled to know that this offer involved more than simply paying for their purchase in 60 instalments. The advertising encouraged consumers into an ongoing credit arrangement that carried additional costs and obligations. Today’s outcome sends a strong message that businesses must give consumers a clear and accurate picture of the products they are promoting and the costs that come with them.’
In delivering his Honour’s reasons, Justice O’Bryan said Harvey Norman and Latitude ‘put sales and their commercial interests above the interests of consumers, and also distorted the markets in which competing goods and finance are offered.’ The Court said that ‘the compliance processes of both defendants were wholly inadequate to prevent the contravening conduct.’ Justice O’Bryan further said, ‘Given the scale and sophistication of both defendants, that is an extraordinary state of affairs’ and ‘is particularly striking in the case of Harvey Norman’.
Justice O’Bryan said that ‘Harvey Norman and Latitude were equally responsible for the contravening advertisements’, however, his Honour ordered Harvey Norman to pay a higher penalty because ‘the defendants have…exhibited a different level of contrition’, ’public statements made by Harvey Norman’s Chairman show a disregard for the potential harm suffered by consumers from Harvey Norman’s misleading conduct’, and ‘A higher penalty is warranted to deter repetition and to motivate Harvey Norman to improve its compliance processes’.
The Court also ordered both Harvey Norman and Latitude to publish immediately visible corrective advertising on website home pages for 90 days.
Download – Judgment
Background
- On 4 October 2022, ASIC commenced proceedings in the Federal Court against Latitude and Harvey Norman, alleging breaches of sections 12DA, 12DB and 12DF of the Australian Securities and Investments Commission Act 2001 (Cth), by pursuing a national advertising campaign, which failed to adequately disclose the true scope and cost of the promoted payment method (22-270MR).
- Consumers who signed up to the GO Mastercard on or after 16 March 2021 and before 11 August 2021, and made a purchase at Harvey Norman using the 60 month interest free payment method and paid off their purchase over 60 months, would be liable to pay at least $537 in fees, on top of their purchase amount.
- On 18 October 2024, Justice Yates found that Latitude and Harvey Norman had breached the law by engaging in misleading conduct and making false or misleading representations (24-228MR). On 5 November 2024, Justice Yates made declarations as to their liability. On 19 November 2024, Latitude and Harvey Norman each filed an application for leave to appeal the declarations.
- On 3 September 2025, the Full Federal Court dismissed Latitude and Harvey Norman’s appeals (25-193MR).
- ASIC’s Moneysmart website has information for consumers about the real costs of interest free deals and how to find help to get debt under control.
Australia Court Fines Retail Store Harvey Norman Holdings & Latitude Finance Australia $38 Million (AUD 55 Million) for Misleading Advertising Campaign in 2020 & 2021 with 60-Month Interest Free & No Deposit Payment for Goods Purchased at Harvey Norman Stores, Customers Required to Use Latitude GO Mastercard with Monthly Account Service Fees
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