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Showing 51 - 60 of 258 results for "Scam"

ASIC project foils scammers' operations

MATTHEW WAI  |  MONDAY, 19 AUG 2024
A year into its investment scam disruption project, ASIC has 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 ...

Independent MPs call for super reforms

ELIZA BAVIN  |  WEDNESDAY, 14 AUG 2024
Independent MPs have called for urgent amendments to the Better Targeted Super Bill, particularly regarding the proposed taxation of unrealised gains. The controversial legislation introduces a 30% tax rate for superannuation earnings exceeding $3 million ...

AFCA urges super trustees to improve processes

ELIZA BAVIN  |  TUESDAY, 13 AUG 2024
The Australian Financial Complaints Authority (AFCA) said the average 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 ...

AFCA complaints surge in FY24

KARREN VERGARA  |  THURSDAY, 1 AUG 2024
... received a record number of complaints in the 2024 financial year, jumping 9% to more than 105,000. Preliminary numbers show scam-related complaints drove the surge, together with motor vehicle insurance, banking, finance, and general insurance sector-related ...

UniSuper's environmental option returns -16%

JAMIE WILLIAMSON  |  TUESDAY, 30 JUL 2024
... reelection of Donald Trump, a vehement opposer to clean energy. While campaigning, he has referred to renewable energy as a "scam business" and has already made promises to scrap offshore wind projects if elected. Pearce also cited Chinese EV and solar ...

Trend among young Aussies highlights need for affordable advice

ELIZA BAVIN  |  MONDAY, 29 JUL 2024
The Association of Superannuation Funds of Australia (ASFA) has released new research highlighting that young Australians are increasingly relying on social media for financial advice. ASFA said a major concern with this trend is the growing risk of ...

ASIC, APRA provide FAR update

ELIZA BAVIN  |  FRIDAY, 12 JUL 2024
... distribution obligations; product origination; recover and exit planning and resolution planning; reinsurance management; scam management; technology management; training and monitoring of relevant representatives and staff; underwriting; and whistleblower ...

FSC releases new standard on scam mitigation

ELIZA BAVIN  |  MONDAY, 1 JUL 2024
... standard of risk-mitigation, with flexibility for vulnerable customers who are unable to access multifactor authentication." The scam and fraud mitigation measures include adopting internal policies to detect and prevent fraudulent activity, have a clear ...

Unprecedented vulnerabilities in financial services: KPMG

ANDREW MCKEAN  |  THURSDAY, 27 JUN 2024
KPMG specialists say disruptive technologies, particularly generative AI, and the imperative to automate, are exposing financial services executives to unprecedented vulnerabilities. In Australia, KPMG partner Matt O'Keefe noted that heightened customer ...

Aussies' financial literacy declines, young people fare the worst

ANDREW MCKEAN  |  FRIDAY, 21 JUN 2024
Despite many initiatives, financial literacy, capability, and wellbeing levels have dropped in Australia, according to research commissioned by Ecstra Foundation and conducted by SVA Consulting. The International approaches to progressing financial ...