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Showing 1 - 10 of 264 results for "scam"

ASIC boasts $830m record civil penalties

KARREN VERGARA  |  MONDAY, 20 JUL 2026
ASIC has scored a whopping $830 million in civil penalty orders in the last financial year alone, a Freedom of Information (FOI) request revealed. The FOI obtained by Lambros Photios, the founder of technology services and artificial intelligence (AI) ...

Treasury expects regulators to do the heavy lifting

MATTHEW WAI  |  FRIDAY, 17 JUL 2026
Treasury has released new Statements of Expectations (SoE) for the Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC), with an emphasis on how the regulators should promote a more sustainable ...

ASFA strengthens cyber security with new hire

MATTHEW WAI  |  WEDNESDAY, 8 JUL 2026
The Association of Superannuation Funds of Australia (ASFA) has named its head of cyber and financial crime, bringing relevant experience from a super fund. Michael Collins has joined ASFA, stepping into the role with over 20 years of experience in ...

ASIC cancels AFSL of Capital Guard over fake bond sale

ELIZA BAVIN  |  FRIDAY, 3 JUL 2026
... not exist; made misleading or deceptive statements on its website, including misrepresenting its experience and altering scam warnings about it that were issued by third parties; and provided false documents to an auditor, amounting to dishonest conduct. ...

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

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
... the ePayments Code were widespread and systemic. She also found HSBC's breaches to be serious, noting that while some scam controls were implemented, critical safeguards were not applied to the bank's internal payment system, where the majority ...

ASIC moves to strengthen defences against financial scams

VINNY VUCAGO  |  WEDNESDAY, 17 JUN 2026
... licensees are collected, Australians will be able to more easily distinguish a genuine financial services website from a scam or imposter website by checking against website addresses listed on ASIC's register," said Kirkland. "It will also support businesses ...

ASFA joins Finance Industry Council of Australia

VINNY VUCAGO  |  TUESDAY, 19 MAY 2026
... system are being discussed," she said. Delahunty noted current priorities included the Compensation Scheme of Last Resort, scam and fraud protections, and regulatory simplification with ASFA aiming to ensure superannuation perspectives are reflected ...

ASFA chair to step down after four years

JAMIE WILLIAMSON  |  TUESDAY, 5 MAY 2026
The Association of Superannuation Funds of Australia (ASFA) is on the hunt for a new independent chair. Gary Dransfield is stepping down after four years as independent chair of ASFA. While there, he oversaw the appointment of Mary Delahunty as chief ...

AFCA names inaugural chief scams officer

MATTHEW WAI  |  THURSDAY, 26 MAR 2026
... security. Lacey will lead the expansion of AFCA's jurisdiction to consider the role of banks, telcos and digital platforms in scam complaints, AFCA said. Congratulating Lacey on his appointment, AFCA chief executive and chief ombudsman David Locke said ...

CALI pushes for advice reforms as Australians turn to AI

RIDDHIMA TALWANI  |  TUESDAY, 17 MAR 2026
More Australians are turning to artificial intelligence (AI) for insurance advice, underscoring the need for the government to deliver on its advice reforms, the Council of Australian Life Insurers (CALI) said. Research by CALI found three in five Australians ...
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