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Showing 21 - 30 of 81 results for %22Super scam%22

Aussies shell out $51m on crypto fees

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... action. Crypto enthusiasts are typically very savvy and see fees as a waste of money," he said. ASIC is warning self-managed super funds about the increased number of cryptocurrency investment scams. "It is best practice for superannuation fund members ...

Financial watchdog warns on crypto

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... statement this week, the Australian Securities and Investment Commission ( ASIC) has issued a warning urging self-managed super funds (SMSFs) to consider the risks of cryptocurrency investments. The corporate regulator said that it had noticed an increase ...

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 ...

Hume puts finfluencer followers on notice

KARREN VERGARA  |  TUESDAY, 21 SEP 2021
... she doesn't want to prevent people from being interested in finance or expressing their views, it is not a free pass to scam or mislead. "There's never an excuse for that. But the existence of a small number of unscrupulous actors doesn't ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
... opportunities advertised across digital platforms as well as scammers posing as romance interests to 'bait' people into scam investments," the report read. Businesses lost $18 million; a whopping 260% increase compared to 2019. Overall, 444,164 ...

ASIC issues warnings on investment scams

ANNABELLE DICKSON  |  FRIDAY, 14 MAY 2021
... 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 ...

Pandemic boosts scam complaints

ANNABELLE DICKSON  |  THURSDAY, 11 MAR 2021
... amounts of $1 million. AFCA resolved disputes totalling $294 million. Earlier this year, the ATO found the early release of super scams cost Australians over $6 million. Untersteiner noted that superannuation funds worked with AFCA to resolve consumer ...

Super scammer permanently banned

ELIZABETH MCARTHUR  |  MONDAY, 15 FEB 2021
ASIC has permanently banned a former financial adviser, Daniel McSweeny, after he was previously banned for five year s. McSweeny was charged with 20 dishonesty offences in 2018, as well as one offence for falsifying books as a company director. An ...

Australians Googling for advice

KANIKA SOOD  |  WEDNESDAY, 3 FEB 2021
... engaged with the most. Superannuation topics -- such as ERS impact and unlicensed advice from real estate groups to use super for rent -- came out on top, accounting for seven of the 10 most-engaged-with articles. Next up in engagement terms were articles ...

Crackdown on ERS scams continues

ELIZA BAVIN  |  MONDAY, 18 JAN 2021
... Office (ATO) has confirmed it is still working with the Australian Federal Police (AFP) to crack down on early release of super scams which cost Australians over $6 million. Combined, the value of scams rose 23% in 2020, with a rise in investment scams ...