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Showing 71 - 80 of 158 results for "Scams"

Government acts to regulate crypto assets

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
... the collapse of several major crypto service providers such as FTX, causing billions of dollars in losses for customers. Scams also present a major issue in the crypto world, with common scams such as investment scams and extortion scams sometimes involving ...

Data sharing laws updated in response to Optus breach

JAMIE WILLIAMSON  |  FRIDAY, 7 OCT 2022
... play an important role in targeting their efforts towards protecting customers at greatest risk of fraudulent activity and scams in the wake of the recent Optus breach. These new measures will assist in protecting customers from scams, and in system-wide ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
... as some retirees, focusing on statements about fund performance and risks. Other core strategic projects will be around scams, sustainable finance practices, crypto assets, design and distribution, breach reporting, cyber and operational resilience ...

ACCC on financial services priorities

CASSANDRA BALDINI  |  WEDNESDAY, 1 JUN 2022
... digital platform payments, changing industry behavior through market inquiries, regulator and industry effort to disrupt scams and promotion of competition and consumer choice through the consumer data right. Cass-Gottlieb started by noting the COVID ...

Volatile crypto markets need better regulation: CHOICE

ANDREW MCKEAN  |  TUESDAY, 31 MAY 2022
... clear example of extreme volatility in an unregulated market. In a statement, CHOICE said it has also seen a huge surge in scams on crypto exchanges. Earlier this year the consumer advocacy group reported that Australians lost $99 million in crypto investment ...

Macquarie responds to term deposit scam

CHLOE WALKER  |  THURSDAY, 28 APR 2022
... relevant authorities, including the Australian Federal Police. "The banking industry has seen a significant increase in scams and fraud in recent years, and unfortunately the impact of these scams can be absolutely devastating for victims like Ms Du ...

Regulators release crypto, cyber security roadmaps

CHLOE WALKER  |  THURSDAY, 21 APR 2022
... related to ransomware attacks, or someone could be using digital currencies to commit serious crimes such as money laundering, scams, or terrorism financing. Blockchain Australia chief executive Steve Vallas added: "The use of digital currencies for ...

Regulators fret over hobby traders

ELIZABETH MCARTHUR  |  WEDNESDAY, 23 MAR 2022
... retail trading that regulators are concerned about - from investors, with limited financial education, being pushed into scams through social media to retail platforms "gamifying" trading to attract younger investors and tempt users to trade more regularly. ...

Scammers prey on lonely hearts

ELIZABETH MCARTHUR  |  MONDAY, 14 FEB 2022
This Valentine's Day, Westpac and the ACCC's Scamwatch is urging people to be aware of love scams. Scamwatch found Australians had lost $56 million to love scams last year. This particular breed of scams appears to be on the rise, with 44% more lost ...

Aussies shell out $51m on crypto fees

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... waste of money," he said. ASIC is warning self-managed super funds about the increased number of cryptocurrency investment scams. "It is best practice for superannuation fund members to seek advice from a licensed financial adviser before agreeing to ...