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Showing 151 - 160 of 792 results for "Fraud"

Court fines ANZ for dodgy introducer program

KARREN VERGARA  |  MONDAY, 13 MAR 2023
ANZ has copped a $10 million penalty for its home loan referral program that breached consumer credit protection laws. The Federal Court found that the bank's Home Loan Introducer Program enabled unlicensed third parties to refer customers to ANZ for ...

ASIC bans mortgage broker for eight years

KARREN VERGARA  |  MONDAY, 27 FEB 2023
... Sweeney from permanently working in financial services. In December last year, Goel was sentenced to three years in jail for fraud offences. He pled guilty to dishonestly obtaining over $35,000 from his clients' superannuation accounts. Meanwhile, Sweeney ...

Unlicensed investor pleads guilty to fraud charges

CHLOE WALKER  |  FRIDAY, 24 FEB 2023
Former Orb Global Investments chief executive Akhilesh Kamkolkar has pleaded guilty to charges relating to $1 million of investor money he spent for himself. A further two offences of carrying on a financial services business without a licence will ...

Regulators sound alarm on cybersecurity, fraud in super

ANDREW MCKEAN  |  FRIDAY, 24 FEB 2023
... of Australia conference, financial services regulators detailed their top priorities, including cybersecurity threats and fraud in the super industry. At the ASFA conference, financial services regulators detailed their top priorities, including cybersecurity ...

ASIC permanently bans former advisers

CHLOE WALKER  |  TUESDAY, 14 FEB 2023
... from having any involvement in financial services. In December last year, Goel was sentenced to three years in jail for fraud offences, to be released after serving 18 months, upon entering a $5000 recognisance to be of good behaviour for two years. ...

Fraudsters jailed over international crypto scam

JAMIE WILLIAMSON  |  WEDNESDAY, 18 JAN 2023
Four people have been jailed in the UK over a $37 million fraud carried out on an Australian cryptocurrency exchange five years ago. The UK's Crime Prosecution Service (CPS) said Stephen William Boys, Kelly Caton, Jordan Kane Robinson and James Austin-Beddoes ...

JPMorgan says fintech was a fraud, closes business

JAMIE WILLIAMSON  |  MONDAY, 16 JAN 2023
JPMorgan has shuttered the financial planning fintech it acquired in 2021 and is suing its founder, claiming most of its users were fake accounts created to inflate the business' value. In September 2021, JPMorgan Chase acquired Frank, a platform that ...

Adviser imprisoned for super fraud

CHLOE WALKER  |  THURSDAY, 15 DEC 2022
Former Perth financial adviser Rahul Goel has been sentenced to three years in prison for stealing over $35,000 from his clients' superannuation accounts. An ASIC investigation into Goel's misconduct found that between November 2018 and July 2019, the ...

OnePath Life sued over utmost good faith duties breach

JAMIE WILLIAMSON  |  THURSDAY, 8 DEC 2022
... customer the opportunity to respond and make proper inquiries into any explanation given by the customer before concluding that fraud has occurred. The insurer's duty is not just owed to whoever the insurer considers to be a perfect policyholder," ASIC ...

Former financial adviser charged with fraud

CASSANDRA BALDINI  |  WEDNESDAY, 7 DEC 2022
A former financial adviser has been convicted of fraud after using false documents to obtain a financial advantage. Ashley Grant Howard pleaded pleading guilty before the Downing Centre Local Court to two charges of using false documents to obtain a ...