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Showing 111 - 120 of 503 results for %22Financial Fraud%22

12 charged in $17m fraud

ELIZA BAVIN  |  WEDNESDAY, 22 JUL 2020
... approach to the investigation was established," the regulators said. "The AFP engaged its partners through the Serious Financial Crime Taskforce to target this conspiracy to siphon off money that should have been remitted to the ATO." The statement said ...

Woman jailed in $105m tax scam

ELIZA BAVIN  |  MONDAY, 13 JUL 2020
... there is still a great deal of work to go in support of the remaining matters before the courts." Chief of the serious financial crime taskforce Will Day welcomed the sentence, saying it shows the commitment of the taskforce in bringing the most serious ...

AustralianSuper appoints head of financial crime

KANIKA SOOD  |  WEDNESDAY, 8 JUL 2020
The country's largest superannuation fund has appointed a head of financial crime, security and resilience, reporting to its chief risk officer Paul Schroder. Tom Garcia is moving into the role after serving as AustralianSuper's head of product from ...

German fintech goes bust, $2.9bn gone

ELIZA BAVIN  |  FRIDAY, 26 JUN 2020
... the company in connection with the so called Third Party Acquiring business and has reported them as an asset in its financial accounts," Wirecard said. "The foregoing also causes the company to question the previous assumptions regarding the reliability ...

ATO doubles down on fraud crackdown

ELIZA BAVIN  |  WEDNESDAY, 24 JUN 2020
... something like this that seems too good to be true, well, it probably is." The ATO said penalties for fraud can include financial penalties, prosecution, and imprisonment for the most serious cases. "Our tax system works on a self-assessment model. We ...

Judgement delivered in binary options fraud

ALLY SELBY  |  FRIDAY, 19 JUN 2020
... Federal Court of Australia has slapped a trading company with a $1.8 million fine, while two people have been barred from financial services for their involvement in the fraudulent binary options scheme. The judgement comes following findings made in ...

Aussie financial firms struggle to manage risk: Study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
Australian financial firms are struggling to keep up with the pace of technological change, with two thirds of executives revealing that risks are emerging more rapidly than ever before. More than 70 Australian senior risk executives from the major ...

Raiz Super bleeds red

ALLY SELBY  |  WEDNESDAY, 3 JUN 2020
... of the company's infrastructure, enabling members to easily consolidate their superannuation online." He confirmed to Financial Standard that Raiz was not aware of any cases of fraud within its super offering relating to the scheme.

TPB cracks down on 74 tax practitioners

ELIZABETH MCARTHUR  |  TUESDAY, 26 MAY 2020
... reviewing SMSF annual returns. It found that 74 practitioners representing 106 funds had lodged annual returns for the 2017 financial year with an incorrect SAN and failed to satisfactorily respond to ATO inquiries. The ATO then referred the matter to ...

From fines to prosecution: The penalties are in

ELIZA BAVIN  |  THURSDAY, 21 MAY 2020
... scheme," Sukkar said. "This has been an extraordinarily popular scheme. In some respects, sadly popular." The ATO told Financial Standard it is doing everything it can, along with the government, to support those who are going through a hard time as ...