Apart from the ludicrous cost, inferior technology, atrocious copy, and poor customer experience, when you buy leads you're complicit in your support of clear non-compliance and false advertising.
RG 234 contains guidance to help brokers comply with their legal obligations not to make false or misleading statements or engage in misleading or deceptive conduct. The document contains the term 'misleading' 99 times, and the term 'deceptive' 35 times. It's required reading.
Consider this statement defining 'deception':
"Making statements that are materially false or materially misleading and are likely to induce consumers to apply for financial products in circumstances where the promoter does not care whether the statement is true or false, or knows, or ought reasonably to have known, that the statement is false. Contravention of this provision is an offence."
Every single leadgen company will show a 'You Qualify' message after completion of a fake quiz (regardless of supplied data) - a defining feature of false/misleading advertising, and an attribute of illegal baiting. The quiz is designed to make leads easier to sell - it provides zero value to the client. Most of them will show a rate you cannot access (usually without comparison references or required disclaimers).
ASIC will prosecute based on unconscionable conduct, false or misleading representation, 'bait' advertising, failure to respond to a substantiation notice, or giving false or misleading information, and of all the' finspam' leadgen services, every single one of them promotes blatantly misleading/false statements. It has to end.
Don*t compromise your business when building a fully-owned, customer-friendly, and compliant solution is so easy.
Call Belief.
