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Showing 81 - 90 of 817 results for "fraud"

Former financial adviser charged in alleged $160k super fraud case

ANDREW MCKEAN  |  FRIDAY, 9 MAY 2025
Former financial adviser Abdullah Popal has been charged with alleged fraud offences in Sydney's north-west, accused of hoodwinking five individuals out of over $160,000 from their self-managed super funds (SMSFs). A statement from Police NSW said ...

AustralianSuper says cyberattack losses total $750k

ELIZA BAVIN  |  MONDAY, 14 APR 2025
... hacked. Criminals used stolen passwords and personal identity information from other sources to access accounts to commit fraud," he said. "Unlike other recent cyber incidents reported in the media over the last few years, cyber criminals did not access ...

Cyberattacks on super funds expose 'critical vulnerability'

ANDREW MCKEAN  |  MONDAY, 7 APR 2025
... advocacy group said the breaches came despite repeated warnings from regulators that the sector is lagging on cyber-resilience, fraud, and scam protections. SCA chief executive Xavier O'Halloran said that given Australians are legally required to ...

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 ...