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Showing 11 - 20 of 191 results for "Scam"

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
... environments for financial firms and their customers following the global pandemic, rising interest rates, a sharp escalation in scam activity and significant natural disasters. "We have dealt with hundreds of thousands of cases over the past five years ...

Sterling Income Trust executives charged

CHLOE WALKER  |  MONDAY, 6 NOV 2023
... Theta managing director Robert Patrick Marie for four years from the financial services industry for his involvement in the scam. The following year, a senate committee handed down an inquiry report into the SIT and urged ASIC to take more action in ...

ASIC cracks down on former adviser, comedian

JAMIE WILLIAMSON  |  TUESDAY, 22 AUG 2023
... sticky taping them to authorisation forms, to illegally obtain as much as $750,000. Interestingly, Valvo was the victim of a scam himself during this time. In 2019 Valvo told A Current Affair how he lost $50,000 through a fake trading platform. According ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... accounts had the lion's share of the total complaints (13,781), overtaking credit cards (10,555). AFCA received 6048 scam-related complaints, a 46% rise on the previous year, averaging 504 complaints a month. All in all, $253.81 million in compensation ...

Cheques to wind down by 2030: Chalmers

CASSANDRA BALDINI  |  THURSDAY, 8 JUN 2023
Archaic payment systems could soon be a thing of the past following government plans to wind down outdated methods like cheques. Treasurer Jim Chalmers handed down a five-point strategic plan yesterday in front of the Australian Banking Association ...

Melissa Caddick declared dead by coroner

JAMIE WILLIAMSON  |  FRIDAY, 26 MAY 2023
The fraudster who purported to be a financial adviser to scam upwards of $23 million out of family and friends is likely dead, the inquest has found. That was the key finding delivered by the NSW Coroner yesterday, though the nature of her demise could ...

Super funds must prioritise member experience: Consultant

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
A global technology and HR consultancy is urging superannuation funds to shift to experience-led organisations, amid changing member expectations. Bharat Bathi, the lead of Wipro HR Services' retirement services division, says "it's not an option ...

Federal budget 2023: Winners and losers

TOM WATSON  |  TUESDAY, 9 MAY 2023
... years, starting in September. It will also look to strengthen regulations around e-cigarettes and vaping. Scammers: With scam losses reaching $3.1 billion in 2022, the government will aim to crack down on scammers with $58 million in funding for a National ...

Funding boosts ASIC greenwashing remit

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... package that Chalmers dedicated to combatting scams and online fraud. The majority ($58m) will help establish the National Anti-Scam Centre within the Australian Competition and Consumer Commission to improve scam data sharing across governmen

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
... way, the UK government said, anybody who receives a phone call about a financial product will know right away that it's a scam. Fraud costs the UK government about $13 billion a year, accounting for more than 40% of all crime. "Our plan will help protect ...