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Showing 1 - 10 of 344 results for "Victims"

AFCA moves to reinstate APT Strategy, opens doors for victims

KARREN VERGARA  |  THURSDAY, 27 AUG 2026
... APT Strategy has been reinstated as a member of the Australian Financial Complaints Authority (AFCA), paving the way for victims to come forward. AFCA today announced APT Strategy, which is in liquidation, is once again a member for a period of 12 months. ...

First Guardian victims advance in case against InterPrac

KARREN VERGARA  |  FRIDAY, 21 AUG 2026
Two victims of the First Guardian Master Fund linked to InterPrac Financial Planning, who collectively lost $465,000, have won a small victory in the Federal Court. Justice Beach on August 13 ordered InterPrac to pay the sums, which were calculated ...

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... More than $100 million was paid to over 1000 affected investors in January, after Netwealth confirmed it would compensate victims in December 2025. ASIC did not seek a pecuniary penalty in the matter, owing to the circumstances of the case, including ...

Former Berndale director jailed for $700k in misused funds

VINNY VUCAGO  |  THURSDAY, 6 AUG 2026
... Abraham said offences of this kind damaged confidence in Australia's financial markets and corporate regulatory framework. "Victims of these types of crimes are not confined to those who directly suffered through loss of their funds, but extend to the ...

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 ...
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