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Showing 31 - 40 of 151 results for "Scams"

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
... transactions, delay in insurance claim handling, disputes over insurance claim amounts, service quality, and 'other' types of scams.

FAAA takes aim at finfluencers with new campaign

MATTHEW WAI  |  WEDNESDAY, 6 NOV 2024
... unreliable information online, which could be costly. According to the FAAA, Australians have lost over $1.3 billion to financial scams last year. "One-in-three Australians are still turning to unqualified finfluencers for guidance - a decision that ...

Reforms needed to boost engagement: ASFA

MATTHEW WAI  |  MONDAY, 23 SEP 2024
... cohort tends to seek consultation through family and friends and social media, possibly leaving the group more vulnerable to scams involving superannuation. The industry body is now calling for the second tranche of the DBFO reforms to make financial ...

ASIC, RBA handed new financial market infrastructure powers

ANDREW MCKEAN  |  FRIDAY, 20 SEP 2024
... those falsely claiming to be authorised or regulated by ASIC, fake investment trading platforms, and crypto-asset related scams. Combating investment scams is a key priority for ASIC. Since July 2023, the regulator has coordinated the removal of over ...

ASFA launches new initiative to fight financial crime

ELIZA BAVIN  |  WEDNESDAY, 18 SEP 2024
... and unified approach," Delahunty said. ASFA said the initiative will also build on the momentum of the government's recent Scams Prevention Framework, which called for a coordinated response to financial crime. "As the Minister for Cyber Security, Tony ...

Scams prevention framework consultation released

ELIZA BAVIN  |  MONDAY, 16 SEP 2024
Treasury has released the Scams Prevention Framework for consultation with harsh penalties proposed for financial services firms that don't do enough to prevent scams. The government is planning to introduce mandatory codes that would requires financial ...

ASIC project foils scammers' operations

MATTHEW WAI  |  MONDAY, 19 AUG 2024
... taken down more than 7300 phishing and investment scam websites. This includes the removal of 5530 fake investment platform scams since July 2023. It has also seen the closure of 1065 phishing scam hyperlinks and 615 cryptocurrency investment scams ...

AFCA urges super trustees to improve processes

ELIZA BAVIN  |  TUESDAY, 13 AUG 2024
... loss on a superannuation scam complaint was just under $90,000. AFCA said of the nearly 11,000 complaints in relation to scams last financial year, less than 20 came from superannuation fund members. "That's pleasing - but not a reason for complacency ...

AFCA complaints surge in FY24

KARREN VERGARA  |  THURSDAY, 1 AUG 2024
... 11% to 59,636. Scam-related complaints rose 81% to 10,951 in FY24, averaging 913 a month compared with 504 year on year. Scams in the super sector were particularly worrying due to their sophistication. "We urge super fund trustees to review the steps ...

Trend among young Aussies highlights need for affordable advice

ELIZA BAVIN  |  MONDAY, 29 JUL 2024
... tactics, including targeting account holders through social media, which ASIC has identified as a growing concern. "Most scams begin through interactions over platforms like Reddit, TikTok, and X (formerly Twitter). Young people's personal trust ...