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Showing 11 - 20 of 687 results for "Fraud"

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN  |  MONDAY, 8 JAN 2024
... nurse in her application process, and by not adequately notifying her of the intention to void the policy on the basis of fraud. The corporate regulator also accused OnePath of failing to inform the customer of her right to dispute or appeal the decision ...

Caddick SMSF clients should recoup all funds: Lawyer

KARREN VERGARA  |  FRIDAY, 15 DEC 2023
... there are multiple occasions in which auditors ought to have, if they discharged their duties properly, established that the fraud had been perpetrated on the victims," Chapman said. "Auditors are the gatekeepers to the superannuation system. We rely ...

Aussie banks deliver record profits in FY23

CASSANDRA BALDINI  |  TUESDAY, 14 NOV 2023
... supporting their customers and meeting regulator expectations, as well as assisting them with hardship, protection from fraud, cyber-security, and system reliability. "Overall, Australia's major banks are very well positioned in capital, provisions ...

Caddick victims sue auditors in class action

KARREN VERGARA  |  MONDAY, 30 OCT 2023
A new class action led by victims of Melissa Caddick alleges that auditors of their self-managed superannuation funds failed their jobs to detect fraudulent activities. Twenty-four victims, together with the help of Melbourne-based law firm Mackay Chapman ...

Crypto exchanges to obey financial services rulebook

ANDREW MCKEAN  |  MONDAY, 16 OCT 2023
The government plans to mandate that crypto exchanges adhere to Australian financial services laws, requiring digital asset platform operators to obtain an AFSL. Treasury's Regulating digital asset platforms' consultation, released today, mandates that ...

BBY chief charged with aiding and abetting fraud

KARREN VERGARA  |  TUESDAY, 10 OCT 2023
... former chief executive of stockbroking firm BBY has been charged with several offences which include aiding and abetting fraud and could face lengthy jail time. The Downing Centre Local Court charged Arunesh Narain Maharaj after ASIC alleged that he ...

Platform fees, poor resourcing a red flag for regulator

JAMIE WILLIAMSON  |  TUESDAY, 3 OCT 2023
... platforms. This includes that platforms do not have sufficiently robust systems and processes in place to protect consumers from fraud or cyber attacks, and that the average time to transfer investments and savings between platforms are typically longer ...

AAC at centre of billionaire insider trading scheme

CHLOE WALKER  |  WEDNESDAY, 26 JUL 2023
... a "brazen insider trading scheme." Lewis, founder of investment firm Tavistock Group, is facing 16 counts of securities fraud and three counts of conspiracy. Federal prosecutors have alleged that, between 2013 and 2021, the 86-year-old exploited his ...

Recession risk is receding: Natixis IM

CHLOE WALKER  |  WEDNESDAY, 26 JUL 2023
Thanks to a robust start to the year, economists and investment strategists are feeling more confident that a recession won't take place in the second half, according to a recent survey by Natixis Investment Managers (Natixis IM). The survey, conducted ...

Super sector falling behind in cyber security: Podcast

CASSANDRA BALDINI  |  MONDAY, 24 JUL 2023
EY cybersecurity leader for financial services Rohit Rao says the superannuation sector is lagging when it comes to cybersecurity processes, adding that increased consolidation has created more risk. In the latest episode of the Financial Standard podcast ...