Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 130 results for "Scams"

ASIC targets advisers, platforms, research houses in super switching scams

KARREN VERGARA  |  THURSDAY, 3 JUL 2025
... say that ASIC has "invested heavily in these matters" and even diverted resources from other projects to super switching scams. "Just to give you a sense of the scale of the work, we've set up a number of specialist investigation teams. We've ...

AFCA looks to expand jurisdiction over receiving banks in scams

MATTHEW WAI  |  TUESDAY, 20 MAY 2025
... transaction, which will allow the ombudsman to meet its new authorisation condition that "enables AFCA to investigate and consider scams involving mule accounts and the actions of receiving banks in scam complaints." The change will supposedly provide ...

What Labor's second term means for regulators

KARREN VERGARA  |  TUESDAY, 6 MAY 2025
... regulators given the familiarity with the people in power they deal with. The election left several reforms hanging, such as the scams protection framework, Delivering Better Financial Outcomes 2 (DBFO) and unfair trading prohibition. The election also ...

Finfluencer failed to disclose paid promotions, says regulator

JAMIE WILLIAMSON  |  WEDNESDAY, 30 APR 2025
... The OSC said this suggests "those who trust and follow the advice of finfluencers may be more vulnerable to social media scams." As part of the research, the OSC conducted an online experiment with 1465 social media users, some of which were investors ...

Aussies prefer advisers, analyst notes over social media

KARREN VERGARA  |  TUESDAY, 15 APR 2025
... that young Australians are increasingly relying on social media for financial advice, which puts them at risk of investment scams. Young Australians aged 18-34 are twice as likely to source financial advice from social media than those aged 35-49. Of ...

Financial services minister Stephen Jones to retire from politics

ANDREW MCKEAN  |  THURSDAY, 30 JAN 2025
... of our steel industry" and to "rebuild TAFE." More recently, as assistant treasurer, he pointed to his work on combatting scams, protecting workers' superannuation, making financial advice more accessible and affordable, and strengthening consumer ...

ASIC calls out super trustees over 'weak' anti-scam practices

ELIZA BAVIN  |  THURSDAY, 30 JAN 2025
... commissioner Simone Constant, outlined ASIC's guidance for super trustees in preventing, detecting and responding to scams and fraud activity. In the letter, Constant said disrupting investment scams is a priority for ASIC and the regulator has observed ...

ASIC sues HSBC Australia over $23m scam losses

MATTHEW WAI  |  MONDAY, 16 DEC 2024
... the outcome", which ASIC believes the bank failed to achieve. "All banks need to pull their weight in the fight against scams. We will not hesitate to take court action where we consider banks fail to comply with their obligations to protect their customers," ...

World on the brink: Frontier Advisors

ANDREW MCKEAN  |  FRIDAY, 6 DEC 2024
... agreements and expand fossil fuel production. The report noted that Trump refers to climate change as 'one of the great scams of all time'. "He has stated he'll withdraw from the Paris Agreement, promote investment in fossil fuel production, cut funding ...

Half of advice, super complaints result in no remedy

ELIZA BAVIN  |  WEDNESDAY, 4 DEC 2024
... transactions, delay in insurance claim handling, disputes over insurance claim amounts, service quality, and 'other' types of scams.
PREVIOUS
NEXT