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Showing 71 - 80 of 688 results for "fraud"

Former adviser wins appeal, convictions quashed

JAMIE WILLIAMSON  |  MONDAY, 20 JUN 2022
A former adviser who was found guilty of fraud and sentenced to 12 years in prison in 2019 will have his case retried, having successfully argued there was a miscarriage of justice. Ben Jayaweera was a financial adviser and director of now-defunct Growth ...

Australian firms spend 3.6bn on financial crimes

CASSANDRA BALDINI  |  THURSDAY, 16 JUN 2022
... largely to rising financial costs. Respondents reported increased exposure to trade-based money laundering, third-party fraud, proceeds of trafficking and the criminal use of new technologies and methods, including cryptocurrency. Lexis Nexis Risk Solutions ...

Spirit Super member data exposed after security attack

ANDREW MCKEAN  |  MONDAY, 30 MAY 2022
... the accounts of impacted members and a block to payments from these accounts. "There is minimal risk of identity theft or fraud as a result of the limited data set involved in the privacy breach," a Spirit Super statement read. "It's possible that the ...

No place for crypto in insto portfolios: PGIM

JAMIE WILLIAMSON  |  FRIDAY, 20 MAY 2022
... the broader crypto ecosystem, namely blockchain technology. PGIM said firms that clear and settle transactions, prevent fraud, and tokenise real assets offer great value creation over the next 10 years; "where there's a gold rush, invest in shovels and ...

Allianz subsidiary, former portfolio managers charged over massive fraud

JAMIE WILLIAMSON  |  WEDNESDAY, 18 MAY 2022
... and three of its former portfolio managers have been charged by the US regulator over a multi-billion-dollar securities fraud sold to pension funds that went on for more than four years. The Securities and Exchange Commission charged Allianz Global Investors ...

Charges laid in lengthy ASIC investigation

JAMIE WILLIAMSON  |  MONDAY, 16 MAY 2022
A former financial adviser who was permanently banned in 2016 for using close to $2 million in client funds for his own use has now been charged with 17 offences related to the alleged fraudulent transfer of shares to himself. Ashley Howard of Hobart ...

Macquarie responds to term deposit scam

CHLOE WALKER  |  THURSDAY, 28 APR 2022
... 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 Preez." Macquarie ...

Caddick's husband chases payday

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 APR 2022
The former hairdresser husband of missing, presumed deceased, fraudster Melissa Caddick is continuing to pursue a stake of the wealth Caddick dishonestly amassed - despite ASIC attempting to claw back funds for victims. Anthony Koletti has been married ...

ASIC takes Federal Court action against Macquarie Bank

ANDREW MCKEAN  |  TUESDAY, 5 APR 2022
... said that limited monitoring by Macquarie of transactions made through its bulk transaction system didn't pass through a fraud monitoring system. It was also alleged that there weren't manual checks to confirm that transactions were for fees. According ...

Border rule-breaking former adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 5 APR 2022
... was convicted of failing to comply with a direction under the Emergency Management Act 2005 and of gaining a benefit by fraud in contravention of the Criminal Code WA. Babbage was sentenced to 10 months jail by the Perth Magistrates Court. At the time ...