fraud

Financial planning

Unregistered MIS operator charged with $36.5m fraud

An unregistered managed investment scheme operator in Western Australia has been charged with defrauding investors of $36.5 million in 50 counts of fraud....

Policy & Regulation

Unlicensed trader sentenced to jail after fraud

Dr Roger Munro has been sentenced to four and a half years imprisonment after pleading guilty to three counts of fraud....

Policy & Regulation

Fraud costing Australian financial services dearly

The cost of fraud to financial services in Australia is 3.78 times the amount of the lost transaction value, according to a study....

Policy & Regulation

Craig Gore found guilty of six counts of fraud

The Queensland property developer has been found guilty of six counts of self-managed super fund fraud totalling $345,000, having initially arrested back in 2017....

Policy & Regulation

Filing 100 dodgy income tax returns earns TPB termination

The Tax Practitioners Board has terminated the registration of a tax practitioner who filed 100 tax returns without checking the identity of the clients....

SMSF

Adviser charged with 10 counts of SMSF fraud

The corporate watchdog allege that Brett Gordon withdrew $502,000 from self-managed super fund bank accounts without authorisation, and paid personal debts using funds be...

Superannuation

Vigilance needed on suspicious super activity

Superannuation members need to regularly check their balance given the scams and fraud activity surrounding the early release of super scheme, a super body has said....

Expert Analysis

Inoculating against a potential fraud pandemic

We all need to keep our vigilance high during these extraordinary times, but perhaps nowhere is our attention more warranted than over money and data, writes Dean Martin....

Funds management

Gen Z most susceptible for low-tech fraud

When it comes to financial security, Gen Z are the most prone to low-tech fraud, according to GlobalData....

Financial planning

VOFF accuses Labor of “politicising a crime” in Trio fraud

Aussie politicians make “politicised and dishonest decisions about ‘fraud’” despite having no law enforcement of forensic investigation skills, Victims of Financial Fraud...

Policy & Regulation

Banks pledge to improve fraud protection

Five Australian banks have agreed to improve their compliance measures and controls for deposit accounts that can be operated by a third party, such as a financial advise...

Policy & Regulation

Planner charged for fraudulent WAW vote

The Australian Securities and Investments Commission has charged Neil John Evans for fraudulently voting in the director elections for WAW Credit Union Co-Operative Limit...

Financial planning

ATO recognition of advisers comes with obligations

The Australian Taxation Office has made clear that if it grants ‘key intermediary’ status to financial advisers, it will come with conditions around higher standards and ...

SMSF

Sydney woman pleads guilty to SMSF-related offence

A Sydney woman accused of dishonestly obtaining funds a client’s SMSF account and dealing with the prospects of crime has pleaded guilty, following an investigation by AS...

Financial planning

Parallels between Trio and bank money laundering

The Victims of Financial Fraud has likened the recent bank money laundering investigations to the Trio Capital scheme, arguing admission of weaknesses in the law meant it...