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Showing 51 - 60 of 340 results for "Victims"

Investments, advice complaints jump 18%

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... interest," AFCA chief executive David Locke said. "This only highlights the need for the Compensation Scheme of Last Resort for victims of unlawful advice." Conversely, superannuation complaints dropped 16% year on year to 6164, while life insurance-related ...

CSLR levy underspend expected as claim processing slows

ANDREW MCKEAN  |  WEDNESDAY, 28 MAY 2025
... paid, CSLR's operating costs are tracking below the levy estimate. The scheme continues to focus on ensuring eligible victims of financial misconduct are supported in line with its legislative mandate.

Former director sentenced over 'test' trading accounts

MATTHEW WAI  |  THURSDAY, 22 MAY 2025
... however, no actual trading took place," ASIC said. From that, McCabe dishonestly obtained a total of $940,350 from eight victims, seven of whom were clients of Guevara Capital Access and/or Online Trading Capital (both deregistered). McCabe was sole ...

Former Sydney adviser sentenced to three years

MATTHEW WAI  |  MONDAY, 19 MAY 2025
... year. In sentencing the judge remarked that Valvo was "clearly in a position of trust and he broke the trust of the 12 victims for whom he was supposed to be providing financial advice and assistance". Valvo's guilty plea was taken into account by the ...

Super lobbies welcome bipartisan support to fight financial abuse

ELIZA BAVIN  |  MONDAY, 28 APR 2025
... executive Misha Schubert said there was an urgent need to close the loophole to allows perpetrators of violence to inherit victims' super. "Under current laws, an abuser can receive a victim's super death benefit unless they are the direct cause of that ...

Government to 'crack down further' on financial abuse

ANDREW MCKEAN  |  WEDNESDAY, 23 APR 2025
... and family violence." They said there would be "zero tolerance" for perpetrators who exploit financial systems to harm victims. Should the government be re-elected, the ministers said they'd seek to prevent perpetrators from using the tax and corporate ...

The tax system is being weaponised to inflict abuse, ombudsman says

ANDREW MCKEAN  |  THURSDAY, 3 APR 2025
... personally incur," the report said. The ATO said financial abuse is a serious issue which can have significant impacts on victims and acknowledged it has an important role in supporting impacted taxpayers. The ATO said it agrees with all recommendations ...

Court approves Caddick SMSF class action settlement

KARREN VERGARA  |  WEDNESDAY, 2 APR 2025
The Federal Court has approved the settlement amount of $3.54 million for Melissa Caddick victims who brought a class action against auditors that failed to detect fraudulent activities in their SMSFs. Michael Chapman, a director at Mackay Chapman ...

CSLR costs driven by poor advice: AFCA

ELIZA BAVIN  |  TUESDAY, 1 APR 2025
... the cost to them of the CSLR, while consumers are concerned about access to fair compensation when they have been the victims of misconduct. "From our perspective as dispute resolution specialists we can see that the 'win-win' is to prevent complaints ...

Life insurers enhance domestic violence response

MATTHEW WAI  |  THURSDAY, 20 FEB 2025
... important for life insurers to be able to detect situations of family and domestic violence to provide support to the victims through engaging with their financial adviser or other professionals or offering alternative processes. "Just as life insurance ...