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Showing 91 - 100 of 688 results for "fraud"

Lying rife in life insurance applications

ANNABELLE DICKSON  |  FRIDAY, 9 JUL 2021
... away, this could leave your loved ones in the lurch financially. In serious cases, you could even be sued for insurance fraud." The research found that 41% of Australians don't have life insurance with 35% of men not insured 47% for women. "It's easy ...

AUSTRAC to face scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 24 JUN 2021
... program. This despite the fact NAB has poured $800 million and devoted more than 1000 staff members to improving financial fraud and crime control. Labor MP Daniel Mulino supported O'Neill's call for the inquiry. Taking to Twitter, Mulino said: "This ...

ASIC bans adviser over $5m fraud

ELIZABETH MCARTHUR  |  TUESDAY, 8 JUN 2021
ASIC has permanently banned former Sentinel Wealth financial adviser Gavin Fineff, after he was charged with misappropriating between $3.3 and $5 million of client money. On May 7, Fineff was arrested and charged by New South Wales Police with 18 offences ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
Fake investment opportunities fleeced Australians $328 million and accounted for the largest scams in 2020. This is according to the Australian Competition & Consumer Commission's (ACCC) latest report Targeting Scams, which unveiled a recording-breaking ...

AUSTRAC investigates NAB, JBWere

KARREN VERGARA  |  MONDAY, 7 JUN 2021
... has the necessary systems and processes to do so. Since June 2017, NAB poured $800 million into its financial crime and fraud controls and has more than 1200 staffers working in this department. "At this stage, AUSTRAC is not considering civil penalty ...

Former adviser charged with $3.3m fraud

KARREN VERGARA  |  THURSDAY, 27 MAY 2021
... police kicked off investigations in March 2020, when the North Shore Police Area Command received reports of an alleged fraud committed against an 86-year-old woman and received more tip offs from other alleged victims thereafter. Fineff was a member ...

Government opens consultation on key advice reforms

JAMIE WILLIAMSON  |  MONDAY, 19 APR 2021
... in a position that compromises their ability to practice as a financial adviser, such as being insolvent or convicted of fraud. They may also have contravened a financial services law, or have breached the education and training requirements or the Code ...

Mawhinney banned for 20 years

ELIZABETH MCARTHUR  |  MONDAY, 19 APR 2021
... ASIC was prosecuting him for a crime that was never committed and said that there was no misappropriation of funds and no fraud on his behalf. Although Mayfair 101's products were allegedly marketed to wholesale, sophisticated investors Financial Standard ...

Bernie Madoff dies in prison

ELIZABETH MCARTHUR  |  THURSDAY, 15 APR 2021
... Commission (SEC) had conducted five major investigations into Madoff, dating back to 1992, but had failed to find evidence of his fraud for over a decade. Madoff was at one point the chair of the NASDAQ stock exchange. He ran a brokerage, Bernard L. ...

Aussies to lose $100m to fraudsters

KARREN VERGARA  |  THURSDAY, 1 APR 2021
... million last year and are tipped to lose up to $100 million in 2021. This is according to Finbold, which found that investment fraud was the number one scam that prey Australians. Dating and romance scams (23%) were the next most prevalent. False billings ...