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Showing 31 - 40 of 792 results for "fraud"

Netwealth invokes Part 23 of SIS Act in First Guardian response

JAMIE WILLIAMSON  |  MONDAY, 27 OCT 2025
... SIS Act enables regulated super funds to make applications for financial assistance where they have suffered a loss due to fraud or theft, and the fraud or theft has resulted in the fund facing difficulties in paying benefits to members. Approval of ...

Feature: Group insurance | Cold comfort

MATTHEW WAI  |  WEDNESDAY, 22 OCT 2025
... certificate, validate the policy, and ensure the correct beneficiary is identified, followed by a compliance check with anti-fraud measures and legal obligations. "If the death occurs within the first two years of the policy, insurers may investigate ...

APRA flags growing trustee complacency on retirement strategies

RIDDHIMA TALWANI  |  FRIDAY, 17 OCT 2025
... operational, investment and liquidity. Cole noted members in the retirement phase are more vulnerable to cyberattacks, scams and fraud. "A continuing priority for APRA is to ensure that regulated entities have robust information controls in place, including ...

Super risks continue as advice gets all clear

ELIZA BAVIN  |  FRIDAY, 17 OCT 2025
... preventative frameworks." In addition, the report said as funds digitise and rely heavily on third-party administrators, fraud and cyber risk remain critical vulnerabilities. "Weaknesses in account management, identity verification, and data change protocols ...

Netwealth separates itself from First Guardian: 'A case of fraud'

ELIZA BAVIN  |  THURSDAY, 9 OCT 2025
Netwealth has continued to separate itself from the collapse of First Guardian, saying it was a "case of fraud". In its September quarterly business update, Netwealth said it was working cooperatively with industry bodies and regulators in relation ...

ASIC permanently bans jailed adviser

MATTHEW WAI  |  FRIDAY, 26 SEP 2025
... Under the Corporations Act, ASIC may permanently ban a person from providing financial services if they are convicted of fraud.

GIM director slapped with travel restraints

KARREN VERGARA  |  WEDNESDAY, 24 SEP 2025
Global Investment Marketing (GIM) director Darren Geddes has been barred from leaving the country for the next six months as ASIC alleges he misappropriated money via a sham bond investment scheme. ASIC did not provide details behind its allegations ...

Former Income Asset Management staffer embezzles $1.5m

KARREN VERGARA  |  TUESDAY, 23 SEP 2025
A former Income Asset Management (IAM) employee has funnelled $1.5 million from the company using a bank account used by a "minority sub-custodian". IAM said it suspected fraudulent transfers made from a bank account maintained by its previous sub-custodian ...

Equity Trustees slashes value of Shield investments

JAMIE WILLIAMSON  |  THURSDAY, 18 SEP 2025
... should contribute to a universal protection mechanism ensuring no member is left destitute due to misconduct, negligence or fraud," it said. Appearing before a parliamentary committee this morning, ASIC chair Joe Longo said it could be as many as 15,000 ...

FEATURE: Problem detected

MATTHEW WAI  |  THURSDAY, 18 SEP 2025
... and their providers can clearly understand what is required legally and from regulation. "We've updated our Minimum Fraud Controls for superannuation funds, which are in line with APRA's requirement for multi-factor authentication or equivalent ...