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Showing 21 - 30 of 258 results for "scam"

GIM director slapped with travel restraints

KARREN VERGARA  |  WEDNESDAY, 24 SEP 2025
... leave the country and be unavailable to assist ASIC with the investigation." As first reported by the ABC, the National Anti-Scam Centre received reports of almost $8 million in losses related to GIM since the start of 2024. One investor lost $750,000 ...

FEATURE: Problem detected

MATTHEW WAI  |  THURSDAY, 18 SEP 2025
While financial services organisations may be comfortable with taking risks, certainly when it comes to investing, there are other types of risks they're not so familiar with. It may be 2025, but we continue to consistently see examples of organisations ...

ASIC flags firm grip on private and public markets, super funds

KARREN VERGARA  |  WEDNESDAY, 27 AUG 2025
... proceedings against two super funds over their claims handling practices. In January 2025, we called out trustees for weak scam and fraud practices. Then, in March, we released our landmark report on the poor handling of death benefit claims," the Corporate ...

Binance under microscope over loose controls

MATTHEW WAI  |  MONDAY, 25 AUG 2025
The Australian Transaction Reports and Analysis Centre (AUSTRAC) directed Binance Australia to appoint an external auditor after "serious concerns" were identified from its independent review. The concerns are in relation to the crypto exchange's ...

ASIC warns of 'sharp rise' in financial misconduct

MATTHEW WAI  |  THURSDAY, 21 AUG 2025
... obligations (36%), credit issues (15%) and other (10%). Further, ASIC found that 28% (or 2139 reports) of all reports were for scam related conduct. It added that, to June 30, it has shut down an average of 130 scam websites each week. Commenting, ASIC ...

Four men charged over sophisticated bond scam

MATTHEW WAI  |  FRIDAY, 8 AUG 2025
... laundering offences for allegedly using fake social media advertisement and investment comparison sites to help run a bond scam. ASIC alleges that between January and July 2021, Dimitrios (James) Podaridis, Peter Delis, Bassilios (Bill) Floropoulos ...

ASIC bans investment scammer

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... Holdings, Matthew Allen Beresford, from working in financial services, after he was found guilty of running an investment scam. ASIC has also permanently banned Beresford from engaging in credit activities. Beresford's investors deposited some $374,000 ...

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... year to 6164, while life insurance-related complains rose 5% year on year to 1518. One bright spot was the 45% decline in scam-related complaints to 5977. "Whilst any decline is positive and we welcome the progress made by government and industry to ...

ASIC targets advisers, platforms, research houses in super switching scams

KARREN VERGARA  |  THURSDAY, 3 JUL 2025
ASIC warns it will take a deeper dive into the roles that financial advisers, superannuation platforms and research houses are playing in members being pushed into high-risk investment schemes. The corporate regulator is closely looking at the entire ...

$15m crypto scam costs former adviser 10 years

JAMIE WILLIAMSON  |  THURSDAY, 12 JUN 2025
A former financial adviser that redirected $14.8 million in client and family funds into a crypto scam has been banned for 10 years. Glenda Rogan of Wollongong and Sutherland Shire allegedly transferred at least $14.8 million of funds invested by clients ...