Crunch: iiNet victorious over AFACT; Frustrated banker busted on live TV

The film industry got slapped in the face with a wet fish on Thursday when the Federal Court found iiNet not guilty of authorising piracy on its network, which is a good thing for CEO Michael Malone because the punishment could have been pretty severe.

AFACT executive chairman Neil Gane

Neil Gane, the executive director of AFACT, found the decision very disappointing but said he expected the government to fall into line eventually.

To rub salt into the wounds after the judgement, Malone admitted that online piracy was rampant and even offered to help studios put all their content online.

Here is a photo gallery from the day.

It wasn't only piracy in the headlines this week. Soft p0rn also featured in the news when, during a live broadcast from Macquarie Bank's offices, an employee was spotted looking at pictures of scantily-clad supermodel Miranda Kerr.

The anti-piracy warning clip is from Channel 4's The IT Crowd Series 2, episode 3: Moss and the German.