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Showing 71 - 80 of 804 results for "Fraud"

Cybercriminals attack major super funds

ANDREW MCKEAN  |  FRIDAY, 4 APR 2025
... cybercriminals may have used up to 600 members' stolen passwords to login into their accounts in attempts to commit fraud. "While we took immediate action to lock these accounts and let those members know, there are things members can do right now ...

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 ...

AFCA opens consultation on financial elder abuse, family violence

KARREN VERGARA  |  WEDNESDAY, 19 MAR 2025
The Australian Financial Complaints Authority (AFCA) has launched two consultations on how it should improve its approach to handling complaints related to financial elder abuse and family violence. AFCA said it seeks to ensure consistency in how it ...

HNW clients demand more non-custody assets: Study

KARREN VERGARA  |  WEDNESDAY, 12 MAR 2025
... these solutions. Furthermore, many clients view non-custodial investments as higher risk due to concerns about liquidity and fraud. "Proactive communication about these risks and demonstrating how non-custody solutions align with their broader financial ...

SEC drops civil enforcement case against Coinbase

ANDREW MCKEAN  |  MONDAY, 3 MAR 2025
... "The Cyber and Emerging Technologies Unit will root out those seeking to misuse innovation to harm investors, including fraud involving blockchain technology and crypto assets," the SEC said. According to the SEC's complaint, since at least 2019 ...

Convicted adviser banned over $2m theft

MATTHEW WAI  |  MONDAY, 10 FEB 2025
... banning took effect on February 5, with Queensland-based King currently in prison after being convicted on two charges of fraud in relation to the misappropriation. King was found to have stolen the funds from eight clients between February 2012 and ...

Former adviser pleads guilty to $1m theft

MATTHEW WAI  |  MONDAY, 3 FEB 2025
... misappropriating $1.03 million of client funds. Anthony Torre was charged with five counts of stealing and eight counts of fraud in June 2022 following an ASIC investigation; Torre entered a plea of not guilty for all charges on 13 July 2023, with the ...

ASIC calls out super trustees over 'weak' anti-scam practices

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
... commissioner Simone Constant, outlined ASIC's guidance for super trustees in preventing, detecting and responding to scams and fraud activity. In the letter, Constant said disrupting investment scams is a priority for ASIC and the regulator has observed ...

ASIC bans adviser fraudster found with child abuse material

ANDREW MCKEAN  |  WEDNESDAY, 29 JAN 2025
ASIC has permanently banned Brisbane-based financial adviser David Cubilla following a $640,000 fraud conviction; he was also found guilty of using online services to access and possess child abuse material. Cubilla, who was recently an authorised representative ...

Auditors tighten fist on greenwashing

ROSE MARY PETRASS  |  TUESDAY, 28 JAN 2025
... mandatory reporting begins for large entities and financial firms. Part of a broad crackdown on greenwashing and ESG-related fraud, the standards aim to boost confidence and transparency with a focus on investor protection. The International Foundation ...