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Showing 91 - 100 of 792 results for "fraud"

BitConnect promoter hit with good behaviour

KARREN VERGARA  |  TUESDAY, 16 JUL 2024
The promoter of BitConnect who pleaded guilty to spruiking a fraudulent scheme has been handed a good behaviour order and escaped jail time. The District Court of New South Wales ordered John Bigatton on good behaviour for three years, starting from ...

FSC releases new standard on scam mitigation

ELIZA BAVIN  |  MONDAY, 1 JUL 2024
... consumers from financial harm. The FSC's Standard demonstrates its members' commitment to protecting customers from scams and fraud by setting expectations for the industry to follow to ensure strong levels of mitigations are in place, the lobby group ...

Unprecedented vulnerabilities in financial services: KPMG

ANDREW MCKEAN  |  THURSDAY, 27 JUN 2024
... Likewise, KPMG partner Natasha Passley said that the interconnected digital world can too often result in identify theft, fraud, and data breaches, making security inevitably intertwined with fraud and scams. "Organisations in financial services are ...

Will ASIC use AI for advice compliance monitoring?

ANDREW MCKEAN  |  MONDAY, 17 JUN 2024
... during meetings. There's also the concern around 'deep fakes' - impersonating another person using AI, with fraud a major challenge for advisers, and every person online. Esler said that to address these challenges, advice firms must have ...

CSLR makes inaugural payments

KARREN VERGARA  |  TUESDAY, 11 JUN 2024
The Compensation Scheme of Last Resort (CSLR) made its first payments to four victims totalling more than $360,000, three of which related to bad financial advice. One payout of about $145,000 related to inappropriate personal financial advice provided ...

Early release of super scammers cop prison time

KARREN VERGARA  |  FRIDAY, 31 MAY 2024
... pool. It approved 4.55 million applications that amounted to $37.8 billion. The Australian Federal Police's (AFP) anti-fraud Taskforce Iris charged the women in August 2020, initially announcing that there were seven people involved. Together with ...

Former Queensland adviser struck off permanently

ANDREW MCKEAN  |  WEDNESDAY, 29 MAY 2024
... been permanently banned from providing financial services and engaging in credit activities following his conviction for fraud offences last month. This prohibition extends to any role within a financial services business, including positions as an officer ...

Former director sentenced to seven years in prison

ELIZA BAVIN  |  TUESDAY, 28 MAY 2024
... DanFX, an unlicensed foreign exchange trading business, has been sentenced to seven years and three months imprisonment for fraud. Daniel Farook Ali was sentenced in the Brisbane District Court after an investigation by the Australian Securities and ...

BitConnect promoter pleads guilty

KARREN VERGARA  |  MONDAY, 20 MAY 2024
The promoter of BitConnect Australia has pleaded guilty for his role in spruiking a fraudulent cryptocurrency scheme. John Bigatton promoted BitConnect, an online cryptocurrency platform that offered a financial product known as the Lending Platform ...

Former NSW adviser loses ban appeal

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... carries on a financial services business. ASIC permanently banned the former NSW based adviser after he was convicted of fraud offences in the Local Court of NSW at Hornsby on 4 November 2022. Sweeney was authorised to provide advice between 17 November ...