Gold Coast based companies Cigno and Gold-Silver Standard Finance arrange short term credit that can accrue fees of nearly 1000% of the loan amount.
At the moment this is legal - because the companies are structured in a way that avoids regulated caps on loan costs. But Australia's corporate regulator is preparing to use new powers to crack down on them.
Read more here: [ Ссылка ]
For more from ABC News, click here: [ Ссылка ]
If you're in Australia, you can watch more ABC News content on iview: [ Ссылка ]
Subscribe to us on YouTube: [ Ссылка ]
You can also like us on Facebook: [ Ссылка ]
Or follow us on Instagram: [ Ссылка ]
Or even on Twitter: [ Ссылка ]
![](https://i.ytimg.com/vi/IcqiaO57m8s/maxresdefault.jpg)