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Showing 51 - 60 of 151 results for "Scams"

AFCA reports unprecedented complaint spike

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... driven by an alarming rise in scam-related and financial hardship complaints. AFCA registered 8987 complaints related to scams, up 95% from the previous year, while complaints involving financial hardship climbed by 29% over the same period. In 2023 ...

AFCA amends consumer compensation caps

KARREN VERGARA  |  TUESDAY, 9 JAN 2024
... while 6% of cases progressed to a formal decision. Since launching, it has also worked with more than 16,500 victims of scams and more than 7500 people affected by natural disasters, excluding COVID-19.

Macquarie Wrap rolls out new features for advisers

ANDREW MCKEAN  |  TUESDAY, 9 JAN 2024
... provide real-time verification for logins and transactions. Noting that the ACCC reported Australians lost $3.1 billions to scams in 2022, Weber highlighted the importance of Macquarie Authenticator as a verification tool in helping advisers and their ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... new access to financial advice will reduce the harm caused by scammers posing as 'fin-fluencers', with investment scams representing over 60%of all scam losses so far this year," he said. "Access to good advice can be key to helping Australians ...

AFCA secures $1.2bn in refunds

CASSANDRA BALDINI  |  TUESDAY, 21 NOV 2023
... resolve their differences," he said. AFCA reported that, since launching, it's worked with more than 16,500 victims of scams and more than 7500 people affected by natural disasters, excluding COVID-19. Further, it's helped more than 30,000 people ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... these are not factors behind the improvement, he said, adding that weeding out poor advice business models has also helped. Scams, financial difficulty claims on the rise The number of complaints that arose from the superannuation sector soared 31% to ...

Cheques to wind down by 2030: Chalmers

CASSANDRA BALDINI  |  THURSDAY, 8 JUN 2023
... take steps to reduce small business transaction costs," Chalmers explained. Further, he highlighted points around reducing scams, strengthening cyber-security, and updating the RBA's supervision frameworks as well as revamping digital payments. "While ...

Super funds must prioritise member experience: Consultant

ANDREW MCKEAN  |  WEDNESDAY, 17 MAY 2023
... strengthen their predictive and prescriptive analytics capabilities to detect cyber threats, Bathi said. "To combat cyber scams, superannuation funds need to invest in augmenting their predictive and prescriptive analytics capabilities to detect known ...

Funding boosts ASIC greenwashing remit

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... its scrutiny of greenwashing as part of the Labor government's crackdown on protecting investors against investment scams and other misconduct from product issuers. Federal treasurer Jim Chalmers bolstered ASIC enforcement activity against greenwashing ...

UK to ban cold calling on all financial products

JAMIE WILLIAMSON  |  FRIDAY, 5 MAY 2023
The UK is planning to ban cold calling on all financial products as part of a broader strategy for tackling scams. In an announcement from prime minister Rishi Sunak, the government said it is going to stop scams before they reach people. In part, this ...