15 stories this week:
Star senior manager ‘utterly misled’ bank over use of controversial credit cards at casino, inquiry told – 17 March 2022
An inquiry has been told that a senior manager at Star Entertainment Group “utterly misled” the National Australia Bank, about a controversial credit card used by high-rollers at the casino giant’s gambling venues. In 2019, a Chinese financial services company – became concerned that its cards were being used at Star venues to pay for large “suspicious” gambling transactions in breach of its rules, and passed on its concerns to NAB, with the bank then contacting the casino operator.
Surveillance Is a Huge Issue For Domestic Abuse Victims, So the Government Is Stepping In – 18 March 2022
Following a national survey by WESNET, which revealed that almost all women experiencing family violence suffered from technology abuse, the federal government will invest $104 million over the next five years into domestic violence funding.
https://thelatch.com.au/domestic-violence-australia-funding/
https://www.abc.net.au/news/2022-03-18/dv-survivors-spyware-hidden-camera/100919670
ATO flags cryptocurrency crackdown amid evasion concerns – 18 March 2022
Tax authorities will tighten scrutiny of cryptocurrencies in a bid to ensure users are accurately reporting gains and identify whether it is being used as an investment or for business purposes. The clampdown comes amid regulatory concerns that many taxpayers believe cryptocurrency operates in an anonymous digital world, or that gains are tax-free, or only taxable when holdings are cashed back into Australian dollars. ATO will also target investors correctly calculating costs such as brokerage fees, transfer and platform costs, borrowing expenses, interest on loans, and legal fees.
ACCC takes Facebook owner to court over fake cryptocurrency ads – 18 March 2022
The AC has launched a world-leading legal case against Facebook owner Meta, for publishing scam cryptocurrency ads featuring well-known Australians. The ACCC alleges this conduct is in breach of the Australian Consumer Law or the Australian Securities and Investments Commission Act.
Fraudulent GST refunds land NSW man in jail – 18 March 2022
A New South Wales man has been sentenced after obtaining more than $171,000 in fraudulent GST refunds. In addition to his criminal conviction for tax fraud, he was also ordered to repay the full amount in reparations.
https://www.nationaltribune.com.au/fraudulent-gst-refunds-land-nsw-man-in-jail/
Stolen Bitcoin, fake personas and a trip to Ukraine: Inside the case against crypto heist couple Heather Morgan and Ilya Lichtenstein – 19 March 2022
Social influencer, writer, entrepreneur and amateur rapper Heather Morgan and her husband Ilya Lichtenstein, a Russian-American tech entrepreneur, face up to 25 years in jail if found guilty of conspiring to launder stolen Bitcoin worth billions of dollars.
Mining sector sexual misconduct: FIFO sexual harassment whistleblowers tell shocking allegations to 60 Minutes – 19 March 2022
A married mother of two, who made particularly disturbing allegations of persistent sexual harassment in the mining industry to a parliamentary inquiry, is continuing her whistleblower campaign, fronting cameras to tell her story.
Former Apple employee, charged with fraud amounting to $13.47 million, has finances frozen, five properties seized – 20 March 2022
Dhirendra Prasad, a former Apple employee has been charged with defrauding the tech giant out of more than $US10 million ($13.47 million) by taking kickbacks, stealing equipment and laundering money. The federal government has seized five real estate properties and financial accounts worth about $US5 million from Mr Prasad, and will seek to keep those assets as proceeds of crime.
https://www.abc.net.au/news/2022-03-20/man-charged-defraud-apple-10m-dollars/100924870
Former Kleenmaid director sentenced for fraud and insolvent trading – 21 March 2022
On 18 March 2022, a former Kleenmaid director Andrew Eric Young, pleaded guilty to one count of aggravated fraud by dishonestly causing $330,000 to be withdrawn from a Kleenmaid company bank account, two days prior to administrators being appointed. Mr Young transferred the funds to a bank account held by a company, in which he held an interest and from which he and his wife would benefit.
https://www.abc.net.au/news/2022-03-20/man-charged-defraud-apple-10m-dollars/100924870
Australian judge accuses UN of ‘coup d’etat’ after dismissal from case involving Chinese dissidents – 21 March 2022
Australian judge Rowan Downing, QC, has accused the United Nations of an “attack upon the independence of the judiciary” and a coup d’etat after he was removed from the case of a whistleblower (Emma Reily) who had accused the global body of passing on information to Beijing about Chinese dissidents.
(Access to digital version of SMH required to read article.)
At the heart of all fraud lies deceit: building a profile of a corporate fraudster – 21 March 2022
Dean Mitchell from KPGM, provides some insights on white collar fraud and the people who commit it. He touches on patterns of behaviours and claims corporate fraudsters, according to forensic psychologists, go out of their way to refine their techniques, to avoid past mistakes and maximise what they can get away with.
https://newsroom.kpmg.com.au/heart-fraud-lies-deceit-building-profile-corporate-fraudster/
Alexei Navalny – jailed Russian Opposition Leader and vocal Putin critic – found guilty of fraud – 22 March 2022
A Russian court has found jailed Kremlin critic Alexei Navalny guilty of large-scale fraud and sentenced him to nine years in a maximum-security prison, with police detaining both of his lawyers immediately after the hearing. Navalny is one of the most prominent critics of Russian President Vladimir Putin and has dismissed the criminal case brought against him as politically motivated.
Craig Thomson, accused of AVO breach and facing fraud charges, granted bail – 23 March 2022
Former federal Labor MP Craig Thomson has been granted strict bail after spending the night in custody on the NSW Central Coast, accused of fraud offences and breaching an apprehended violence order. Police alleged he made two fake COVID-19 business grant applications, dating back two years, totalling $25,000.
https://www.abc.net.au/news/2022-03-23/craig-thomson-gets-bail-after-alleged-avo-breach/100933914
Erskine resident warns others after almost losing $300,000 to investment scam – 22 March 2022
A 73-year-old Erskine resident was almost left $300,000 out of pocket after he was targeted by an investment scam. The Australian Competition and Consumer Commission reported people lost over $27,000 to investment scams just in February, 2022. Article reminds readers to check if a financial advisor is registered via the ASIC website and check ASIC’s list of companies you should not deal with.
ASIC financial influencer crackdown targets unlicensed financial advice – 23 March 2022
The financial watchdog has put social media finance influencers on notice, with the ASIC financial influencer crackdown threatening up to five years’ jail and $1 million-plus fines for ‘influencers’ giving out financial advice without a licence.
https://www.channelnews.com.au/asic-targets-finfluencers-who-put-investors-at-risk/
