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Businesses to face stiff fines for cheating consumers

Businesses to face stiff fines for cheating consumers

The European Union unveiled new consumer protection rules under which companies will face fines of up to 4% of their annual turnover in each member country for cheating, The Business Times reported. Additionally, member countries can impose higher fines. Under the proposed rules, consumers or qualified organizations will be able to seek compensation, replacement or repair or end contracts on behalf of a group of consumers in all member states if they face aggressive or misleading marketing.

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