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Showing 21 - 30 of 215 results for "Scam"

Budget 2024: $20k instant asset write-off extended

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
The Federal Budget has extended the $20,000 instant asset write-off by 12 months until 30 June 2025. Small businesses, with an aggregated annual turnover of less than $10 million, will continue to be able to immediately deduct the full cost of eligible ...

Budget 2024: Regulators given boost to combat misconduct, cybersecurity

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
The government will provide $17.3 million over four years to ASIC and APRA to combat greenwashing and other related financial misconduct and help further develop Australia's sustainable finance market. In a bid to promote the development of sustainable ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
ASIC has issued a fresh warning over the increase in the sophistication of fake bond and term deposit scams. ASIC said scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. ...

Former adviser slapped with 12 charges

KARREN VERGARA  |  WEDNESDAY, 3 APR 2024
... adjourned to May 28 for further mention. In 2019, Valvo appeared on A Current Affair claiming that he was the victim of a scam. Valvo said he lost $50,000 through a fake trading platform. His family and friends also lost money from the scam. He told ...

Financial Conduct Authority cracks down on finfluencers, firms

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
The UK's Financial Conduct Authority (FCA) is cracking down on finfluencers as more financial services firms turn to social media to promote products and services. The financial services regulator is aiming to get on top of firms that illegally promote ...

Bitcoin investing is on the rise, but more regulation is needed

ELIZA BAVIN  |  WEDNESDAY, 27 MAR 2024
... Reserve Cryptocurrency Index (IRCI), cynicism around Bitcoin is at all-time lows, with fewer people considering it to be a scam - down from 14% in 2019 to 6% in 2024. In addition, 69% of Australians consider Bitcoin to be either money, a store of value ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... "Creigh transferred funds invested in the Crypto Fund overseas to invest in the LAG Fund, which turned out to be an investment scam, causing investors to lose approximately $7.7 million." ASIC said Creigh was not adequately trained or competent as he ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
The corporate regulator says it has shut down about 3500 investment scam websites since July 2023 to protect Australians from digitally enabled misconduct. According to ASIC's latest enforcement and regulatory update, it has secured almost $60 million ...

Financial services 300x more likely to get hacked: Expert

CHLOE WALKER  |  FRIDAY, 23 FEB 2024
... if that's the case, then you can relate to the fact that you might lose that diamond if you lost all their data through a scam or a hack," he said. As such, he said advisers should start treating client data as a 'precious gemstone'. "You certainly wouldn't ...

SMSF scammers charged with criminal offences

KARREN VERGARA  |  WEDNESDAY, 7 FEB 2024
A duo who allegedly defrauded self-managed super funds (SMSF) have been charged by the Melbourne Magistrates Court with a string of criminal offences. The charges follow an ASIC investigation into the activities of Joseph Cullia and Zoran Markovic ...