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Showing 61 - 70 of 165 results for "Scams"

Budget 2024: Regulators given boost to combat misconduct, cybersecurity

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... paid for by the ASIC and APRA industry levies. ASIC will also receive a share of $37.3 million over four years to combat scams and online fraud by administering and enforcing a mandatory industry code that is to be introduced. Finally, the Australian ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
ASIC has issued a fresh warning over the increase in the sophistication of fake bond and term deposit scams. ASIC said scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. ...

Financial Conduct Authority cracks down on finfluencers, firms

KARREN VERGARA  |  THURSDAY, 28 MAR 2024
... removed over 10,000 misleading adverts, up from around 8500 in 2022. "Consumers need to be alert to dubious adverts and scams online, but it is important that influencers ensure they're on the right side of the rules and consider what would happen to ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
... scammers are only too happy to try and take advantage," ASIC chair Joe Longo said. "That's why ASIC is stopping investment scams at the source of their promotion, removing them from the internet before they can lure in unsuspecting consumers." Longo ...

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 ...