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Showing 431 - 440 of 807 results for "Fraud"

Trio liquidators deny deregistering fraud fund

ALEX BURKE  |  MONDAY, 15 JUN 2015
... Strategic Fund was the primary vehicle, along with the ARP Growth Fund, for one of the largest known instances of superannuation fraud in Australian history, with over $176 million in member funds funnelled overseas. Trio Capital was the responsible ...

Trillion dollar super industry attractive to organised criminals

DARREN SNYDER  |  MONDAY, 1 JUN 2015
... SMSFs generally hold the largest balance of superannuation assets it provides an opportunity for low-volume, high-impact fraud on individuals' funds "that may be managed by financially inexperienced individuals." The commission said allowing the Australian ...

Expert issues cyber-attack warning

MARK SMITH  |  MONDAY, 25 MAY 2015
... institutions, including super funds and wealth managers, vulnerable to cyber criminals unless they upgrade their security, a fraud and cyber-crime expert has warned. Similar to the UK's Faster Payments initiative and Same Day ACH in the US, the New Payments ...

ASIC bans convicted fraud "mastermind"

ALEX BURKE  |  FRIDAY, 22 MAY 2015
... over 1000 UK investors. At the conclusion of its seven-year investigation, codenamed Operation Steamroller, The Serious Fraud Office had Revell-Reade extradited to the UK in 2012 and in 2014 he was convicted of fraud. He is now serving a nine-and-a-half-year ...

ASIC bans convicted broker

MARK SMITH  |  WEDNESDAY, 20 MAY 2015
... from engaging in credit activities and from providing financial services for 10 years following her conviction for loan fraud. In September 2014 and following an ASIC investigation, Shashi Kanta Prasad, also known as Sashi Kanta Prasad, was convicted ...

ASIC seeks more bans in SMSF advice crackdown

ALEX BURKE  |  FRIDAY, 15 MAY 2015
... check who they are dealing with and remember SMSFs do not have access to compensation arrangements in the event of theft or fraud. There can also be significant tax penalties for those trustees of SMSFs who get it wrong." SMSF Owners' Alliance executive ...

ASIC developing regulatory guide for advice remediation

ALEX BURKE  |  WEDNESDAY, 6 MAY 2015
... financial advice institutions, most notably CBA, to determine instances where clients have been compromised by non-compliance or fraud. It will use its experience with these programs to develop a standardised process for future scenarios of this type. ...

Hockey launches Serious Financial Crime Taskforce

LAURA MILLAN  |  TUESDAY, 5 MAY 2015
... four years to the Serious Financial Crime Taskforce to investigate and prosecute cases of superannuation and investment fraud, identity crime and tax evasion. The taskforce is a continuation of Project Wickenby, which finishes in 2015 and has so far ...

Industry should help fund ASIC: ANZ

LAURA MILLAN  |  TUESDAY, 21 APR 2015
... industry behaviour and it is the industry's responsibility to better supervise its advisers and minimise the chances of fraud or poor advice," Hodges said. ANZ Global Wealth chief executive officer Joyce Phillips added that the industry needs supervision ...

Big end of town to face Senate over bad advice

LAURA MILLAN  |  FRIDAY, 17 APR 2015
... Securities and Investments Commission (ASIC) in mid-2013. "We need to know if banks have any evidence of criminal activity, fraud or forgery in their advice divisions. ANZ's $30 million in compensation proves that there is a systemic problem with financial ...