Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 11 - 20 of 81 results for %22Super scam%22

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Archaic payment systems could soon be a thing of the past following government plans to wind down outdated methods like cheques.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 ...

Super funds must prioritise member experience: Consultant

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
... response, he notes some superannuation funds are adopting robotic process automation tools. These tools assist in monitoring super accounts, accessing research reports, and helping members make better financial transactions. "Superannuation funds that ...

Federal budget 2023: Winners and losers

TOM WATSON  |  TUESDAY, 9 MAY 2023
... reductions of up to $500 on their electricity bills, and eligible small businesses up to $650. Workers receiving quarterly super: Workers who are currently paid superannuation installments from their employers on a quarterly basis will instead receive ...

Funding boosts ASIC greenwashing remit

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... under the watchful eye of ASIC, which has increased its regulation greenwashing in the last few years. Vanguard, Mercer Super and Future Super are some of examples that ASIC found guilty of greenwashing. The boost was first announced by assistant treasurer ...

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 ...

Taskforce exposes rising dangers for retail investors

ANDREW MCKEAN  |  FRIDAY, 31 MAR 2023
... called for regulators to establish rules related to marketing high-risk products and to create consumer helplines, and anti-scam campaigns. It also advocated for the use of tools to better identify firms' compliance with climate disclosure standards ...

Regulators prioritise emerging areas of risk

CASSANDRA BALDINI  |  WEDNESDAY, 22 MAR 2023
... Rosenzweig shared a few areas of focus. Rosenzweig said the ATO has just published its major statistics on lost and unclaimed super. "Since November 2019 when we started doing that up to June last year, we proactively consolidated about 4.7 million accounts ...

Adviser imprisoned for super fraud

CHLOE WALKER  |  THURSDAY, 15 DEC 2022
... deputy chair Sarah Court said that ASIC was particularly concerned by Goel's conduct, which had many characteristics of a scam and a direct and adverse impact on First Nations consumers. "ASIC will continue to prioritise its enforcement work in this ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
... increasingly being held by a smaller number of regulated superannuation funds, due to industry consolidation," it said. On super, it will review industry practice, communicate expectations regarding trustees' disclosure obligations, and drive changes ...

Scammers prey on lonely hearts

ELIZABETH MCARTHUR  |  MONDAY, 14 FEB 2022
... The scammer might ask for the victim to take out a loan, take money out of their superannuation, give them access to their super or access to a bank account. Another variation of the love scams Scamwatch has identified is called 'romance baiting'. Once ...