ASIC fines Fundo Loans for falsely advertising no credit check loans

ASIC said that Fundo conducted credit checks on some loan applications.

Fundo Loans has been fined $19,800 for a misleading claim that it offered no credit check loans of up to A$5,000, according to the Australian Securities and Investments Commission (ASIC).

The claim reportedly ran on Fundo Loans’ website from April 2023 to about September 2025. ASIC alleged that the claim was misleading because, at least from January 2024, Fundo had required all loan applicants to consent to a credit check.

Fundo also conducted credit checks on some loan applications, ASIC said.

Fundo Loans paid the infringement notice on 17 September 2026.

Fundo Loans holds an Australian credit license and engages in credit activities, providing small and medium credit contracts.