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Showing 61 - 70 of 804 results for "Fraud"

ASIC bans investment scammer

KARREN VERGARA  |  WEDNESDAY, 23 JUL 2025
... participation of investors and consumers in the financial system." "Mr Beresford has been convicted of offences involving fraud or dishonesty, and therefore ASIC's power to make a banning order under those provisions has been enlivened," the regulator ...

ASIC releases new relief for reportable situations regime

KARREN VERGARA  |  MONDAY, 30 JUN 2025
... significant breaches or likely significant breaches of core obligations, and conduct constituting gross negligence and serious fraud. In February, ASIC held consultations on providing targeted relief. It received four confidential and nine non-confidential ...

ASIC calls on AFS licensees to 'step up'

ELIZA BAVIN  |  TUESDAY, 24 JUN 2025
The Australian Securities and Investments Commission (ASIC) has issued a warning about share sale fraud after a spike in reports of stolen shares due to identify theft. ASIC said it has conducted an industry review and provided updated guidance for ...

Former director sentenced over 'test' trading accounts

MATTHEW WAI  |  THURSDAY, 22 MAY 2025
... was sentenced to four years and three months' imprisonment with a non-parole period of two years and six months for three fraud offences. Between January 2015 and April 2021, McCabe misled the investors by providing them with specific funds and access ...

AFCA looks to expand jurisdiction over receiving banks in scams

MATTHEW WAI  |  TUESDAY, 20 MAY 2025
The Australian Financial Complaints Authority (AFCA) is opening public consultation on a string of governance changes, with a key focus on expanding its jurisdiction to include receiving banks in scam complaints. Following an engagement with an external ...

FTX creditors await US$5bn distribution

KARREN VERGARA  |  FRIDAY, 16 MAY 2025
... founder Sam Bankman-Fried is currently serving 25 years in prison after being indicted on several criminal charges, including fraud and money laundering. He reportedly stole US$10 billion from investors. FTX filed for bankruptcy in 2022. Ray, a lawyer ...

Ascent Investment mastermind cops 33 criminal charges

KARREN VERGARA  |  MONDAY, 12 MAY 2025
... On May 9, the Perth Magistrates Court charged Dunjey, the director of Ascent Investment and Coaching, with 23 counts of fraud under section 409 of the Criminal Code 1913 (WA). These amounted to more than $4 million in investor funds. Five counts relate ...

Former financial adviser charged in alleged $160k super fraud case

ANDREW MCKEAN  |  FRIDAY, 9 MAY 2025
Former financial adviser Abdullah Popal has been charged with alleged fraud offences in Sydney's north-west, accused of hoodwinking five individuals out of over $160,000 from their self-managed super funds (SMSFs). A statement from Police NSW said ...

AustralianSuper says cyberattack losses total $750k

ELIZA BAVIN  |  MONDAY, 14 APR 2025
... hacked. Criminals used stolen passwords and personal identity information from other sources to access accounts to commit fraud," he said. "Unlike other recent cyber incidents reported in the media over the last few years, cyber criminals did not access ...

Cyberattacks on super funds expose 'critical vulnerability'

ANDREW MCKEAN  |  MONDAY, 7 APR 2025
... advocacy group said the breaches came despite repeated warnings from regulators that the sector is lagging on cyber-resilience, fraud, and scam protections. SCA chief executive Xavier O'Halloran said that given Australians are legally required to ...