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Showing 61 - 70 of 215 results for "Scam"

ASIC issues warning to finfluencers

JAMIE WILLIAMSON  |  MONDAY, 21 MAR 2022
The corporate regulator has issued information for social media influencers who discuss financial products and the licensees who use them, warning they face substantial penalties if their content contravenes financial services law. The information sheet ...

Scammers prey on lonely hearts

ELIZABETH MCARTHUR  |  MONDAY, 14 FEB 2022
... compared to 2022. And losses to scams are likely to be much higher than reported to Scamwatch, as research shows that of all scam victims only around 13% report to Scamwatch. Westpac's research on love scams showed its customers alone lost $11.4 million ...

Aussies shell out $51m on crypto fees

KARREN VERGARA  |  MONDAY, 31 JAN 2022
Australians have forked out $50.9 million on cryptocurrency trading fees as more intend to invest in this asset class. According to Finder, Bitcoin charges a fee of 0.6% based on the purchase price for parcels less than $10,000, while some exchanges ...

Financial watchdog warns on crypto

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
In a public statement this week, the Australian Securities and Investment Commission ( ASIC) has issued a warning urging self-managed super funds (SMSFs) to consider the risks of cryptocurrency investments. The corporate regulator said that it had noticed ...

Longo's ASIC less aggressive: Report

ELIZABETH MCARTHUR  |  FRIDAY, 10 DEC 2021
Despite a flood of litigation following the Royal Commission, a new report from Herbert Smith Freehills says Joe Longo's ASIC is taking a less aggressive enforcement approach than its contemporaries. Herbert Smith Freehills' Global Financial Services ...

Australians look to gift crypto assets

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
More Australians can expect a crypto-centric gift in their Christmas stockings this year, a new survey shows, which examines the growing appetite for crypto assets. Over half of the 2000 Australians surveyed by Crypto.com are considering bitcoin and ...

Bond scam defrauds SMSFs $2.8m

KARREN VERGARA  |  MONDAY, 15 NOV 2021
A fake bond scam run has allegedly defrauded self-managed super fund members of $2.8 million. Richard Emil Ayoub, an American national, allegedly funnelled the money into Bitcoin between March and August 2021 after promoting it to investors as a fixed ...

Hume puts finfluencer followers on notice

KARREN VERGARA  |  TUESDAY, 21 SEP 2021
... she doesn't want to prevent people from being interested in finance or expressing their views, it is not a free pass to scam or mislead. "There's never an excuse for that. But the existence of a small number of unscrupulous actors doesn't ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... cryptocurrency, especially through Bitcoin, and cryptocurrency scams were also the most commonly reported type of investment scam, with 2240 reports," ACCC deputy chair Delia Rickard said. Scammers pretend to have highly profitable trading systems based ...

OnePath to remediate over pressure selling

ELIZABETH MCARTHUR  |  MONDAY, 12 JUL 2021
... their refund to be paid into their bank account. ASIC is concerned that some consumers offered a refund may think it is a scam.