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Showing 131 - 140 of 219 results for "Scam"

Adviser scammed family, friends

ELIZABETH MCARTHUR  |  FRIDAY, 8 NOV 2019
A New York investment adviser named Ruless Pierre allegedly operated a Ponzi scheme that unlawfully obtained more than $2 million from investors who were told they'd see returns of 20% every two months. Part of the scheme, known as the Amongst Friends ...

US reaches $1bn settlement over 1MDB scam

ELIZABETH MCARTHUR  |  WEDNESDAY, 6 NOV 2019
The US Department of Justice has reached a settlement in its case against assets acquired by Low Taek Jho, also known as Jho Low, and his family. Jho Low allegedly misappropriated funds from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad ...

NAB launches team for vulnerable customers

KRISTI CHENG  |  TUESDAY, 17 SEP 2019
... vulnerability. Called the NAB Customer Support Hub, its aim is to help detect the early stages of financial hardship, such as scam, fraud, domestic and family violence, elder abuse, low financial literacy and gambling addiction, NAB said. "We want to ...

Rural FM dupes investors: Short-seller

KARREN VERGARA  |  FRIDAY, 9 AUG 2019
An activist short-seller has valued Rural Funds Management's agricultural fund as "ultimately worthless," alleging it is falsifying accounts and over-inflating assets. Bonitas is accusing RFM, the responsible entity for ASX-listed Rural Funds Group ...

Financial scams smash Australia

HARRISON WORLEY  |  TUESDAY, 2 JUL 2019
... consulting giant's inaugural Global Banking Fraud survey found Australia suffered a disproportionately high volume of financial scam attempts in 2018, with around half a billion dollars lost. The survey questioned banking fraud risk, investigations and ...

Crypto scams bite UK

HARRISON WORLEY  |  TUESDAY, 21 MAY 2019
... platforms, after the nation lost £27 million to crypto and forex scams so far in FY18/19. The FCA said crypto and forex scam reports more than tripled in the last year, clearing 1800. According to the UK's national fraud and cyber-crime reporting centre ...

Couple faces prison over ponzi-style scam

ELIZABETH MCARTHUR  |  FRIDAY, 10 MAY 2019
... Johnston pleaded guilty to obtaining financial advantage by deception totalling $1,027,000. The victims of her investment scam also met the Johnstons through the Collingwood football club. When Maureen Johnston was sentenced, the presiding judge said ...

Australians lose record amount to scams

ELIZABETH MCARTHUR  |  TUESDAY, 7 MAY 2019
Older Australians, Indigenous Australians and those with a disability have reported record losses to scams in 2018, including more than $85 million to dodgy investments. Australians in total lost almost half a billion dollars to scams in 2018. However ...

Train staff on privacy risks: OAIC

HARRISON WORLEY  |  MONDAY, 5 NOV 2018
The Office of the Australian Information Commissioner has called for staff training on how to identify and prevent privacy risks, as financial services recorded the second highest number of data breaches in the third quarter of 2018. In its report of ...

Advisers on scam alert

KANIKA SOOD  |  TUESDAY, 24 JUL 2018
... princes, fake letters from the ATO) go around in the past years years but their nature is more of deceitful behavior than a scam. "One common type is an income product that offers returns of 8-10% or significantly higher than the market," Crowe says. ...