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Showing 21 - 30 of 53 results for "Investment scam"

Government acts to regulate crypto assets

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
Crypto asset licensing and custody reforms by the government are targeting subsets outside the financial services framework. In a joint statement, treasurer Jim Chalmers and assistant treasurer and minister for financial services Stephen Jones said ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
ASIC has released its corporate plan, outlining strategic priorities and its course of action for the next four years, with a particular focus on the retirement sector. The regulator highlighted four strategic priorities. One of its primary focuses ...

ACCC on financial services priorities

CASSANDRA BALDINI  |  WEDNESDAY, 1 JUN 2022
ACCC chair Gina Cass-Gottlieb has said the regulator is focused on promoting effective competition, investigating allegations of anti-competitive conduct, and protecting the interests of consumers in the financial services sector. Speaking at an AFR ...

Volatile crypto markets need better regulation: CHOICE

ANDREW MCKEAN  |  TUESDAY, 31 MAY 2022
CHOICE has made a submission to the federal government, providing a framework on how to better protect consumers from risks associated with cryptocurrency. According to the latest data from CHOICE's national consumer survey, one in five Australians ...

Scammers prey on lonely hearts

ELIZABETH MCARTHUR  |  MONDAY, 14 FEB 2022
... they will offer to show the victim how to invest, frequently in cryptocurrency, turning the romance scam into an investment scam. "Scammers can come up with endless reasons to try and convince you to send money. If you start to feel pressured by your ...

Aussies shell out $51m on crypto fees

KARREN VERGARA  |  MONDAY, 31 JAN 2022
Australians have forked out $50.9 million on cryptocurrency trading fees as more intend to invest in this asset class. According to Finder, Bitcoin charges a fee of 0.6% based on the purchase price for parcels less than $10,000, while some exchanges ...

Bond scam defrauds SMSFs $2.8m

KARREN VERGARA  |  MONDAY, 15 NOV 2021
A fake bond scam run has allegedly defrauded self-managed super fund members of $2.8 million. Richard Emil Ayoub, an American national, allegedly funnelled the money into Bitcoin between March and August 2021 after promoting it to investors as a fixed ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... cryptocurrency, especially through Bitcoin, and cryptocurrency scams were also the most commonly reported type of investment scam, with 2240 reports," ACCC deputy chair Delia Rickard said. Scammers pretend to have highly profitable trading systems based ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
Fake investment opportunities fleeced Australians $328 million and accounted for the largest scams in 2020. This is according to the Australian Competition & Consumer Commission's (ACCC) latest report Targeting Scams, which unveiled a recording-breaking ...

ASIC issues warnings on investment scams

ANNABELLE DICKSON  |  FRIDAY, 14 MAY 2021
The corporate regulator identified several ongoing investment scams including duping consumers into establishing self-managed super funds, and advertisements for crypto-asset and contracts for difference disguised as fake news articles. ASIC has discovered ...