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DBS keeps ‘buy’ call and $1.80 TP on ComfortDelGro following wrongdoing reports on Australia unit A2B

Michael Ryan Tan
Michael Ryan Tan • 2 min read
DBS keeps ‘buy’ call and $1.80 TP on ComfortDelGro following wrongdoing reports on Australia unit A2B
ComfortDelGro reiterated that it will take a “zero-tolerance” policy towards any kind of fraud and wrongdoing. Photo: ComfortDelGro Australia
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ComfortDelGro Group’s subsidiary in Australia A2B was hit by allegations of fraudulent transactions by taxi drivers resulting in unauthorised charges to passengers and organisations. 

According to the Sydney Morning Herald, the scams usually involve taxi drivers “exploiting loopholes” in the terminal and payment systems provided by A2B. These taxi drivers may also game payment products from Cabcharge, which A2B supplies to state and federal agencies, companies, hospitals and other health and disability services

ComfortDelGro reiterated in its announcement on Feb 17 that it “will take a “zero-tolerance” policy towards any kind of fraud and wrongdoing.”

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