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Showing 71 - 80 of 151 results for "Scams"

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 ...

Longo's ASIC less aggressive: Report

ELIZABETH MCARTHUR  |  FRIDAY, 10 DEC 2021
... prioritise areas of greatest harm, including the protection of vulnerable consumers facing hardship or who may be vulnerable to scams and sharp practices." Australia's softening regulatory approach is out of line with what is happening overseas. The ...

Australians look to gift crypto assets

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
... for low fees. For 64%, market volatility is a key issue while close to half were worried about unscrupulous activity and scams. A further 41% said the lack of acceptance of cryptocurrencies by traditional finance sources was a concern. Australians are ...

Bond scam defrauds SMSFs $2.8m

KARREN VERGARA  |  MONDAY, 15 NOV 2021
... crime. The Australian Competition and Consumer Commission found that Australians have lost over $70 million to investment scams in the first half of 2021. This figure is expected to double by the end of the year with increased reports of cryptocurrency ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
Australians have lost over $70 million to investment scams in the first half of 2021, a figure that is expected to double by the end of the year with increased reports of cryptocurrency scams, imposter bond scams and Ponzi schemes, according to the ...

ASIC looks to tighten crypto ETP oversight

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
... consultation, which closes on July 27, comes as Australian Competition and Consumers Commission data shows a rise in crypto scams. For the first five months of this year almost $27 million in losses from Bitcoin-related scams was reported to the watchdog. ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
Fake investment opportunities fleeced Australians $328 million and accounted for the largest scams in 2020. This is according to the Australian Competition & Consumer Commission's (ACCC) latest report Targeting Scams, which unveiled a recording-breaking ...

ASIC issues warnings on investment scams

ANNABELLE DICKSON  |  FRIDAY, 14 MAY 2021
The corporate regulator identified several ongoing investment scams including duping consumers into establishing self-managed super funds, and advertisements for crypto-asset and contracts for difference disguised as fake news articles. ASIC has discovered ...