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Showing 1 - 10 of 340 results for "Victims"

ASIC seeks to wind up Capital Guard AU

KARREN VERGARA  |  WEDNESDAY, 15 JUL 2026
... previous financial services business was sold in 2024 to its current management. Capital Guard's website is now inactive. Victims on customer review platform Trustpilot wrote they cannot contact their Capital Guard account managers, while their calls ...

First Guardian victims recoup 8% of $38m loan

KARREN VERGARA  |  FRIDAY, 3 JUL 2026
Victims of the First Guardian Master Fund will only recoup $2.9 million out of a $38.3 million loan made by responsible entity Falcon Capital, according to liquidators who said the amount represents a realistic commercial value compared to alternative ...

Financial services CSLR Levy hits $198m

MATTHEW WAI  |  THURSDAY, 2 JUL 2026
... the new financial year. CSLR chief executive David Berry highlighted the $200 million in compensation to more than 1600 victims paid by the CSLR since inception were largely results of money lost from "defective personal financial advice". "Unfortunately ...

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
... some time. They have now been given a clear message to have adequate controls and ensure their interactions with scam victims help - not hinder." HSBC admitted it failed its obligations under the ePayments Code and did not apply rules in the code for ...

AFCA puts InterPrac determinations on ice

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... case related to its proceedings against AFCA, claiming the complaints body treated it unfairly. In response, Kee said: "Victims are no longer just fighting to recover their retirement savings. We are now being forced to fight the very systems that was ...

CALI calls for government to help fund CSLR

MATTHEW WAI  |  WEDNESDAY, 20 MAY 2026
... them access peace of mind and financial security when they need it most," Cupitt said. "The scheme is very important for victims of financial misconduct, and the government needs to take a fairer approach and make sensible changes to the design of the ...

InterPrac targets First Guardian victim, disputes AFCA ruling

KARREN VERGARA  |  FRIDAY, 15 MAY 2026
... she lost $380,000 of her retirement savings following the collapse of First Guardian and has been advocating for other victims of First Guardian as well as Shield. AFCA determined InterPrac should compensate Kee for $368,093.11 plus interest. InterPrac ...

Law blocking abusers hiding super assets passes parliament

VINNY VUCAGO  |  FRIDAY, 15 MAY 2026
... personal or salary sacrifice super contributions made by an offender if compensation remains unpaid for more than 12 months. Victims will also be able to apply to the Australian Taxation Office to identify eligible super balances before seeking access ...

ASIC to receive $10m in FY27 to improve MIS supervision

MATTHEW WAI  |  TUESDAY, 12 MAY 2026
... to keep consumers safe from predatory social media clickbait ads like those that targeted the Shield and First Guardian victims." She also urged the government to swiftly act on other measures and reforms, including the super performance test and ATO's ...

Lead generation a 'conveyor belt of harm': Longo

RIDDHIMA TALWANI  |  THURSDAY, 7 MAY 2026
... generation activities have been in the purview of the regulator after the collapse of Shield and First Guardian. Many victims transferred their superannuation savings into the risky investments after a call from a lead generator or after clicking on ...
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