AFA members receiving offers they should refuse
The Association of Financial Advisers (AFA) online resource "Your Best Interest" has been attacked, with some members receiving a variety of spurious “phishing” e-mails.
Money Management understands that the AFA informed members of the problem on Tuesday, however further spurious messages have been received by some members overnight.
What appears to set the attack apart, is that the e-mails correctly name the AFA members rather than relying on just their e-mail addresses.
One of the e-mails sighted by Money Management appears to be a classic “phishing” email citing “a very sensitive and confidential issue I would like to share with you privately to the benefit of both of us”.
The AFA e-mailed its members warning of the hack stating: “The AFA are aware of a recent spamming email which was sent to some members last night at approximately 4am. Please note this did not come from the AFA team and we are investigating”.
AFA chief executive, Phil Kewin told Money Management that member data had not been compromised and that an unscrupulous party had utlised the adviser directory within the AFA's YBI system to e-mail some, but not all, members. He said the unscrupulous party had subsequently been blocked from accessing the site.
Recommended for you
With HNW investors representing the largest market for alternative assets, Praemium and CoreData research underscores why this presents a compelling opportunity for advisers.
Having completed the successful integration of Diverger, Count has upgraded its forecast for expected synergy benefits achieved by the acquisition by a third.
Australia’s largest licensee has seen the biggest number of adviser losses over the past week, while the expected wave of new entrants has boosted overall adviser numbers.
Iress has increased its forecast adjusted EBITDA by $5 million for the 2023/24 financial year in light of the sale of its platform business to Praemium and hinted at a return to dividend payments.
