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Showing 451 - 460 of 807 results for "Fraud"

APRA releases draft RSE fraud management guide

ALEX DUNNIN  |  MONDAY, 27 OCT 2014
... Australian Prudential Regulation Authority (APRA) has just released for consultation a draft prudential practice guide concerning fraud risk management that Registrable Superannuation Entity (RSE) licensees will be expected to follow. In it the regulator ...

Accountant pays $10,000 fine for $100,000 fraud

LAURA MILLAN  |  FRIDAY, 3 OCT 2014
A former Perth company director will have to pay a $10,000 fine after inducing a 70-year-old investor to give his business a cheque for $100,000 and then using it for his own purposes. Andy Kay Hooi Lim saw his 12 months jail sentence wholly suspended ...

Penalties for fund managers too lenient

MARK SMITH  |  WEDNESDAY, 10 SEP 2014
The penalties dealt out to fund managers who commit fraud are not a severe enough deterrent, according to a senior university lecturer. Dr Pelma Rajapakse of Griffith University was commissioned to write a report by the Australian Centre for Financial ...

SEC bestow first whistleblowers awards

ALEX DUNNIN  |  THURSDAY, 4 SEP 2014
... "Individuals who perform internal audit, compliance, and legal functions for companies are on the front lines in the battle against fraud and corruption. They often are privy to the very kinds of specific, timely, and credible information that can prevent ...

Senate bill challenges general advice definition

LAURA MILLAN  |  TUESDAY, 2 SEP 2014
Greens Senator Peter Whish-Wilson has decided to get ahead of the Financial System Inquiry (FSI) and is set to table a bill to change the definition of 'general advice.' The Senator will introduce the private member bill today during the Senate sitting ...

CBA looks for plaintiffs to assist in remediation process

LAURA MILLAN  |  MONDAY, 25 AUG 2014
... and his role will be "to help establish a robust process to independently investigate any customer concerns about possible fraud relating to financial advice they received," the bank said. The Open Advice Review program was set up after media reports ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... of a Senate Economics Committee inquiry into the performance of ASIC, which was prompted by cases of poor advice, alleged fraud and document forgery within CBA's financial planning businesses. As part of the new program, ASIC will appoint an external ...

ME Bank makes key appointment from GE Capital

STAFF WRITER  |  TUESDAY, 29 JUL 2014
... for the Bank." Prior to GE Capital Carlo workedA several years with Experian developing scorecard and decision systems and fraud solutions across Asia Pacific. ME Bank is looking to expand its lending portfolio in light of the new regime, including introducing ...

ASX agrees to changes after ASIC review

MARK SMITH  |  MONDAY, 28 JUL 2014
The Australian Securities Exchange (ASX) has agreed to make changes to its operations to address a number of issues highlighted by the Australian Securities and Investments Commission (ASIC) in a recent review. The changes will affect the way the ASX ...

Advisers eye opportunity in identity theft protection

LAURA MILLAN  |  FRIDAY, 25 JUL 2014
Financial advisers could play a key role in protecting clients against the rise of identity theft and data fraud, Zurich Australia said. As many as 45% of financial advisers feel that offering clients protection from identity theft could add value to ...