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Showing 11 - 20 of 106 results for "Scams"

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... these are not factors behind the improvement, he said, adding that weeding out poor advice business models has also helped. Scams, financial difficulty claims on the rise The number of complaints that arose from the superannuation sector soared 31% to ...

Cheques to wind down by 2030: Chalmers

CASSANDRA BALDINI  |  THURSDAY, 8 JUN 2023
... take steps to reduce small business transaction costs," Chalmers explained. Further, he highlighted points around reducing scams, strengthening cyber-security, and updating the RBA's supervision frameworks as well as revamping digital payments. "While ...

Super funds must prioritise member experience: Consultant

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
... strengthen their predictive and prescriptive analytics capabilities to detect cyber threats, Bathi said. "To combat cyber scams, superannuation funds need to invest in augmenting their predictive and prescriptive analytics capabilities to detect known ...

Funding boosts ASIC greenwashing remit

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... its scrutiny of greenwashing as part of the Labor government's crackdown on protecting investors against investment scams and other misconduct from product issuers. Federal treasurer Jim Chalmers bolstered ASIC enforcement activity against greenwashing ...

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
The UK is planning to ban cold calling on all financial products as part of a broader strategy for tackling scams. In an announcement from prime minister Rishi Sunak, the government said it is going to stop scams before they reach people. In part, this ...

AFCA chief to serve second term

JAMIE WILLIAMSON  |  THURSDAY, 13 APR 2023
... organisation through a period of significant growth in complaints as a result of the COVID pandemic, natural disasters and scams." Locke said he is honoured to have been invited to stay on. "AFCA plays a very important role in Australia's financial services ...

Taskforce exposes rising dangers for retail investors

ANDREW MCKEAN  |  FRIDAY, 31 MAR 2023
... will shape ASIC's strategic priorities concerning retail investor harm, focusing on crypto assets, sustainable finance, scams, and Australia's design and distribution (DDO) laws. The report revealed a steady increase in retail investor participation ...

We need to be ready: APRA

CASSANDRA BALDINI  |  WEDNESDAY, 29 MAR 2023
... businesses and individuals," he said. Next, Jones pointed out the need to strengthen rapid identification and response to scams and frauds as they emerge, claiming Australia is "a decade behind." He then went on to add transaction safety is another key ...

Government acts to regulate crypto assets

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
... the collapse of several major crypto service providers such as FTX, causing billions of dollars in losses for customers. Scams also present a major issue in the crypto world, with common scams such as investment scams and extortion scams sometimes involving ...

Data sharing laws updated in response to Optus breach

JAMIE WILLIAMSON  |  FRIDAY, 7 OCT 2022
... play an important role in targeting their efforts towards protecting customers at greatest risk of fraudulent activity and scams in the wake of the recent Optus breach. These new measures will assist in protecting customers from scams, and in system-wide ...