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Showing 91 - 100 of 817 results for "fraud"

ASIC calls out super trustees over 'weak' anti-scam practices

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
... commissioner Simone Constant, outlined ASIC's guidance for super trustees in preventing, detecting and responding to scams and fraud activity. In the letter, Constant said disrupting investment scams is a priority for ASIC and the regulator has observed ...

ASIC bans adviser fraudster found with child abuse material

ANDREW MCKEAN  |  WEDNESDAY, 29 JAN 2025
ASIC has permanently banned Brisbane-based financial adviser David Cubilla following a $640,000 fraud conviction; he was also found guilty of using online services to access and possess child abuse material. Cubilla, who was recently an authorised representative ...

Auditors tighten fist on greenwashing

ROSE MARY PETRASS  |  TUESDAY, 28 JAN 2025
... mandatory reporting begins for large entities and financial firms. Part of a broad crackdown on greenwashing and ESG-related fraud, the standards aim to boost confidence and transparency with a focus on investor protection. The International Foundation ...

SEC names acting chair, establishes crypto taskforce

ELIZA BAVIN  |  WEDNESDAY, 22 JAN 2025
... "The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better." The taskforce's focus will be to help the commission draw clear regulatory lines, provide realistic ...

ASIC sues HSBC Australia over $23m scam losses

MATTHEW WAI  |  MONDAY, 16 DEC 2024
... read. "Protecting our customers from scammers remains our top priority. We continue to make significant investments in our fraud and scam prevention, detection, and response."

Super funds should focus on 'simple' advice: Jones

ELIZA BAVIN  |  FRIDAY, 6 DEC 2024
Assistant Treasurer Stephen Jones said the purpose of Tranche 2 of Delivering Better Financial Outcomes (DBFO)- which was previewed earlier this week - is to allow super funds to provide basic financial advice, not to see a repeat of issues raised during ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
... to be big enough to cover all of those losses," she said, noting that PI insurers do not insure for illegal behaviour or fraud. "The other issue that we face in this profession is with the AFSL layer and having accountability for PI insurance," she said. ...

Former Western AM investment chief charged for 'cherry-picking'

MATTHEW WAI  |  TUESDAY, 26 NOV 2024
The Securities and Exchange Commission (SEC) has charged former Western Asset co-chief investment officer Ken Leech for "engaging in a multi-year scheme to allocate favourable trades to certain portfolios." The SEC alleges Leech engaged in the conduct ...

AI use limited but take up rises among advisers

KARREN VERGARA  |  TUESDAY, 5 NOV 2024
... rising from 17% to 54% among top AI users and those who are just starting out. Big advocates of AI tend to use it to identify fraud and cyber breaches, back-office automation, and to optimise their digital advertising. "In the current age of digitalisation ...

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
... policies governing the disclosure of use of AI; only 10 did. AI is commonly used in credit decisions and management, marketing, fraud detection, insurance claims, it found. Still, ASIC found licensees' had not identified the potential implications ...