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Showing 11 - 20 of 215 results for "Scam"

AFCA complaints surge in FY24

KARREN VERGARA  |  THURSDAY, 1 AUG 2024
... received a record number of complaints in the 2024 financial year, jumping 9% to more than 105,000. Preliminary numbers show scam-related complaints drove the surge, together with motor vehicle insurance, banking, finance, and general insurance sector-related ...

UniSuper's environmental option returns -16%

JAMIE WILLIAMSON  |  TUESDAY, 30 JUL 2024
... reelection of Donald Trump, a vehement opposer to clean energy. While campaigning, he has referred to renewable energy as a "scam business" and has already made promises to scrap offshore wind projects if elected. Pearce also cited Chinese EV and solar ...

Trend among young Aussies highlights need for affordable advice

ELIZA BAVIN  |  MONDAY, 29 JUL 2024
The Association of Superannuation Funds of Australia (ASFA) has released new research highlighting that young Australians are increasingly relying on social media for financial advice. ASFA said a major concern with this trend is the growing risk of ...

ASIC, APRA provide FAR update

ELIZA BAVIN  |  FRIDAY, 12 JUL 2024
... distribution obligations; product origination; recover and exit planning and resolution planning; reinsurance management; scam management; technology management; training and monitoring of relevant representatives and staff; underwriting; and whistleblower ...

FSC releases new standard on scam mitigation

ELIZA BAVIN  |  MONDAY, 1 JUL 2024
... standard of risk-mitigation, with flexibility for vulnerable customers who are unable to access multifactor authentication." The scam and fraud mitigation measures include adopting internal policies to detect and prevent fraudulent activity, have a clear ...

Unprecedented vulnerabilities in financial services: KPMG

ANDREW MCKEAN  |  THURSDAY, 27 JUN 2024
KPMG specialists say disruptive technologies, particularly generative AI, and the imperative to automate, are exposing financial services executives to unprecedented vulnerabilities. In Australia, KPMG partner Matt O'Keefe noted that heightened customer ...

Aussies' financial literacy declines, young people fare the worst

ANDREW MCKEAN  |  FRIDAY, 21 JUN 2024
Despite many initiatives, financial literacy, capability, and wellbeing levels have dropped in Australia, according to research commissioned by Ecstra Foundation and conducted by SVA Consulting. The International approaches to progressing financial ...

AFCA seeks industry feedback on approaches

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
The Australian Financial Complaints Authority (AFCA) is seeking feedback from the financial services industry on its proposed annual Approach document schedule for financial year 2024-2025. AFCA Approach documents support consumers, small businesses ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
The Super Members Council (SMC) has revived its predecessor's calls to extend anti-hawking legislation, slamming a sub-set of financial advisers using social media posts and cold calling to drum up business. Prior to its merger, the Australian Institute ...

Early release of super scammers cop prison time

KARREN VERGARA  |  FRIDAY, 31 MAY 2024
Three people will go to prison after pleading guilty to defrauding the COVID-19 early release of superannuation scheme for $103,500. The Brisbane District Court sentenced three women from Queensland, whose identities were not revealed, for submitting ...