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Showing 71 - 80 of 792 results for "fraud"

Super funds should focus on 'simple' advice: Jones

ELIZA BAVIN  |  FRIDAY, 6 DEC 2024
Assistant Treasurer Stephen Jones said the purpose of Tranche 2 of Delivering Better Financial Outcomes (DBFO)- which was previewed earlier this week - is to allow super funds to provide basic financial advice, not to see a repeat of issues raised during ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
... to be big enough to cover all of those losses," she said, noting that PI insurers do not insure for illegal behaviour or fraud. "The other issue that we face in this profession is with the AFSL layer and having accountability for PI insurance," she said. ...

Former Western AM investment chief charged for 'cherry-picking'

MATTHEW WAI  |  TUESDAY, 26 NOV 2024
The Securities and Exchange Commission (SEC) has charged former Western Asset co-chief investment officer Ken Leech for "engaging in a multi-year scheme to allocate favourable trades to certain portfolios." The SEC alleges Leech engaged in the conduct ...

AI use limited but take up rises among advisers

KARREN VERGARA  |  TUESDAY, 5 NOV 2024
... rising from 17% to 54% among top AI users and those who are just starting out. Big advocates of AI tend to use it to identify fraud and cyber breaches, back-office automation, and to optimise their digital advertising. "In the current age of digitalisation ...

Gap exists between licensees' AI use and governance processes: ASIC

MATTHEW WAI  |  TUESDAY, 29 OCT 2024
... policies governing the disclosure of use of AI; only 10 did. AI is commonly used in credit decisions and management, marketing, fraud detection, insurance claims, it found. Still, ASIC found licensees' had not identified the potential implications ...

Charges dropped against Macquarie adviser

KARREN VERGARA  |  TUESDAY, 8 OCT 2024
Charges against a former Macquarie financial adviser, including five counts of fraud, have been dropped. The Brisbane Magistrate's Court dismissed all 27 charges laid against Warren Scott Acworth on October 3 after the Commonwealth Director of Public ...

Commonwealth Bank shakes up executive leadership team

ANDREW MCKEAN  |  WEDNESDAY, 2 OCT 2024
... operating officer for HSBC UK, where she oversaw financial crime operations, as well as the technology, operations, and fraud functions. Before that, she was a partner and managing director at Boston Consulting Group, providing strategic, operational ...

Early release of super scammer sent to prison

KARREN VERGARA  |  TUESDAY, 24 SEP 2024
... superintendent Peter Chwal said the AFP worked closely with Commonwealth and state law enforcement partners to stamp out fraud and identify anyone who tried to exploit government support. "It is important to protect the integrity of financial support ...

Court freezes assets of company director

ANDREW MCKEAN  |  FRIDAY, 20 SEP 2024
The Federal Court has made orders to freeze the assets of company director David McWilliams and numerous companies associated with him that offered investment opportunities in purpose-built, NDIS-compatible property development schemes. McWilliams and ...

ASFA launches new initiative to fight financial crime

ELIZA BAVIN  |  WEDNESDAY, 18 SEP 2024
... initiative represents a united effort to protect Australia's retirement savings from increasingly sophisticated cybercrime and fraud-related risks, ASFA said. "Superannuation is the cornerstone of financial security for most Australians. This work will ...