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Showing 51 - 60 of 165 results for "Scams"

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 ...

FSC releases new standard on scam mitigation

ELIZA BAVIN  |  MONDAY, 1 JUL 2024
... protect consumers from financial harm. The FSC's Standard demonstrates its members' commitment to protecting customers from scams and fraud by setting expectations for the industry to follow to ensure strong levels of mitigations are in place, the lobby ...

Unprecedented vulnerabilities in financial services: KPMG

ANDREW MCKEAN  |  THURSDAY, 27 JUN 2024
... can too often result in identify theft, fraud, and data breaches, making security inevitably intertwined with fraud and scams. "Organisations in financial services are best prepared for this with a robust strategy that embraces emerging tech, keeps apace ...

Aussies' financial literacy declines, young people fare the worst

ANDREW MCKEAN  |  FRIDAY, 21 JUN 2024
... pressures, as Australians are navigating multiple challenges, economic inequality and the continued proliferation of financial scams." The report, however, said there are many stakeholders working on financial capability and wellbeing in Australia, which ...

AFCA seeks industry feedback on approaches

ELIZA BAVIN  |  FRIDAY, 14 JUN 2024
... current approaches and AFCA will continue to work on key factsheets responding to current and emerging issues, including scams, it said. AFCA said anyone wanting to submit feedback on the proposed annual approach document should have submissions in by ...

Super Members Council renews calls for anti-hawking extension

JAMIE WILLIAMSON  |  THURSDAY, 13 JUN 2024
... its own anti-hawking provisions to cover all financial services in a bid to curb the rise in consumer losses related to scams. In January 2019, the UK outlawed cold calling in relation to pensions, except where the caller is authorised by the Financial ...

Budget 2024: $20k instant asset write-off extended

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... times to small businesses and $23.3 million to increase e-invoicing adoption, which will also disrupt payment redirection scams and boost productivity. This Budget will also invest a further $10.8 million to deliver tailored, free and confidential financial ...