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Showing 11 - 20 of 501 results for %22Financial Fraud%22

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 ...

Caddick victims sue auditors in class action

KARREN VERGARA  |  MONDAY, 30 OCT 2023
... SMSF auditors who allegedly failed to pick up that the assets Caddick invested never existed when reviewing the annual financial reports. Filed in the Federal Court of Australia in Sydney on October 27, the litigants allege that the auditors engaged ...

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
... alleged that he aided, abetted, counselled or procured offences by another former BBY employee, who dishonestly obtained a financial advantage for BBY from St George Bank. "The financial advantage was obtaining additional funding by way of improperly ...

Platform fees, poor resourcing a red flag for regulator

JAMIE WILLIAMSON  |  TUESDAY, 3 OCT 2023
... the regulator, flagging concerns around poor disclosure of fees and under-investment in technology. In the letter, the Financial Conduct Authority's director of consumer investments Lucy Castledine outlined "key harms" to consumers the regulator has ...

AAC at centre of billionaire insider trading scheme

CHLOE WALKER  |  WEDNESDAY, 26 JUL 2023
... board began detailing the impact of the weather events on its properties and potential impact on the business, including financial losses which were not publicly known. Lewis was also informed that AAC did not have insurance coverage relating to cattle ...

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 ...

BlackRock Bitcoin ETF: A landmark institutional event?

ANDREW MCKEAN  |  MONDAY, 26 JUN 2023
... BlackRock's strong track record - with 575 successful ETFs and only one failure - and its commanding presence in the financial sector as a potential game-changer. Further, he argues that BlackRock wouldn't pursue this venture amid current regulatory ...

Macquarie shifts toward AI-first banking

CASSANDRA BALDINI  |  WEDNESDAY, 21 JUN 2023
... retail banking platforms, building them to be cloud-first and completely digital," said Macquarie's head of banking and financial services group Greg Ward. "By leveraging that investment in our technology stack, and in partnership with Google Cloud ...