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Showing 51 - 60 of 264 results for "scam"

Jones preps DBFO Tranche 2 for parliament

KARREN VERGARA  |  WEDNESDAY, 30 OCT 2024
Assistant treasurer Stephen Jones said the government will press on with Tranche 2 of the Delivering Better Financial Outcomes (DBFO) reforms that he is preparing to introduce in parliament. The highly anticipated set of changes promise to remove laborious ...

Early release of super scammer sent to prison

KARREN VERGARA  |  TUESDAY, 24 SEP 2024
... A Western Australian woman who illegally obtained $202,000 for herself and others via an early release of superannuation scam has been sentenced to three years' imprisonment. The unnamed High Wycombe woman was sentenced at the Perth District Court ...

Reforms needed to boost engagement: ASFA

MATTHEW WAI  |  MONDAY, 23 SEP 2024
Research from the Association of Superannuation Funds of Australia (ASFA) shows only half of all adult Australians have consulted any source of information on preparing for retirement. The group says Tranche 2 of Delivering Better Financial Outcomes ...

ASIC, RBA handed new financial market infrastructure powers

ANDREW MCKEAN  |  FRIDAY, 20 SEP 2024
... said. Separately, the corporate regulator is conducting a global search and request for tender process for its investment scam website takedown service - its current contract expires in 2025. The request for tender seeks a service which will identify ...

ASFA launches new initiative to fight financial crime

ELIZA BAVIN  |  WEDNESDAY, 18 SEP 2024
The Association of Superannuation Funds of Australia (ASFA) has launched of the ASFA Financial Crime Protection Initiative (FCPI), a project designed to bolster the superannuation sector's defences against the growing threat of financial crime. In collaboration ...

Scams prevention framework consultation released

ELIZA BAVIN  |  MONDAY, 16 SEP 2024
Treasury has released the Scams Prevention Framework for consultation with harsh penalties proposed for financial services firms that don't do enough to prevent scams. The government is planning to introduce mandatory codes that would requires financial ...

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 ...