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Showing 41 - 50 of 192 results for "Scam"

Financial watchdog warns on crypto

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
In a public 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 ...

Longo's ASIC less aggressive: Report

ELIZABETH MCARTHUR  |  FRIDAY, 10 DEC 2021
Despite a flood of litigation following the Royal Commission, a new report from Herbert Smith Freehills says Joe Longo's ASIC is taking a less aggressive enforcement approach than its contemporaries. Herbert Smith Freehills' Global Financial Services ...

Australians look to gift crypto assets

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
More Australians can expect a crypto-centric gift in their Christmas stockings this year, a new survey shows, which examines the growing appetite for crypto assets. Over half of the 2000 Australians surveyed by Crypto.com are considering bitcoin and ...

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 ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... cryptocurrency, especially through Bitcoin, and cryptocurrency scams were also the most commonly reported type of investment scam, with 2240 reports," ACCC deputy chair Delia Rickard said. Scammers pretend to have highly profitable trading systems based ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... their refund to be paid into their bank account. ASIC is concerned that some consumers offered a refund may think it is a scam.

ASIC looks to tighten crypto ETP oversight

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
ASIC is consulting on how exchange-traded products investing in cryptoassets can meet existing regulatory expectations, with the regulator particularly interested in identifying suitable cryptoassets for such products and ensuring good practice in terms ...

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
... advertisements for crypto-asset and contracts for difference disguised as fake news articles. ASIC has discovered an SMSF scam where individuals have been cold called or emailed to transfer funds from their existing super fund into a new SMSF. In doing ...