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Showing 1 - 10 of 499 results for %22Financial Fraud%22

Experts issue warning over AI washing

ANDREW MCKEAN  |  MONDAY, 11 MAR 2024
... quarter of the Australian economy, impacting nearly $600 billion in economic activity, especially within professional and financial services. Deloitte lead partner for financial services Joel Lipman said that with financial services founded on extensive ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
... member services, such as how they handle death benefits claims," Longo said. "We will continue to work to ensure the financial system works for all Australians." At the same time, the National Anti-Scam Centre has issued a warning to consumers about ...

ASIC vigilant on bad SMSF advice

KARREN VERGARA  |  WEDNESDAY, 21 FEB 2024
ASIC is putting the pressure on financial advisers to provide appropriate SMSF advice using "professional judgment", as the regulator flags serious instances of misconduct it wants to curb. At the annual SMSF Association National Conference, ASIC senior ...

Jailed adviser permanently banned by ASIC

JAMIE WILLIAMSON  |  TUESDAY, 13 FEB 2024
A former financial adviser who was jailed for stealing more than $1 million from his clients' superannuation to feed a gambling problem is now permanently banned from the industry. In September 2023, Mark Raymond Sebo was found guilty of misappropriating ...

Massive crypto Ponzi scheme unravels

KARREN VERGARA  |  TUESDAY, 30 JAN 2024
... L. Barron said: "The level of alleged fraud here is staggering. Whether it's cryptocurrency fraud, or any other financial frauds, if it sounds too good to be true, it probably is. This office and our law enforcement partners will hold perpetrators ...

Bitcoin ETFs given green light by US regulator

ANDREW MCKEAN  |  THURSDAY, 11 JAN 2024
... BlackRock, Fidelity, Invesco, VanEck, Ark Investments, and Grayscale, opening the door for Australian retail investors and financial advisers to access US listed bitcoin spot ETFs through local brokerages. Betashares head of digital assets Justin Arzadon ...

Macquarie Wrap rolls out new features for advisers

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... function in Adviser Online. The platform's updated account-level performance reporting functionality seeks to afford financial advisers access to insights that will "support investment recommendations and client advice". "Our latest release of account-level ...

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
... ASIC alleged Zurich, the legal successor in the case, breached its duty of utmost good faith by failing to consult the financial adviser who'd assisted the nurse in her application process, and by not adequately notifying her of the intention to void ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... clients should get all their money back. Michael Chapman, a director at Melbourne-based law firm Mackay Chapman, told Financial Standard that SMSF auditors failed in their duties, and if they had not failed in those duties, his clients would not have ...

Aussie banks deliver record profits in FY23

CASSANDRA BALDINI  |  TUESDAY, 14 NOV 2023
... very difficult to deal with. However, there has never been a more competitive time for lending and deposits," he told Financial Standard. "So, while we are seeing big top-line figures, it's important to remember that there is also fierce competition ...
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