News and Analysis

The following are articles relevant to the Professional Investigator.   Click on the title to make a comment or join the conversation.



‘Elaborate’ Uni Fraud Scamming Aussie Businesses Of Millions – 12 June 2019

A new elaborate scam is using the identity of University Procurement Services and provides instructions to deliver the products (e.g laptops and defibrillators) to a warehouse. The business provides payment details to receive an electronic transfer and the goods are delivered; however, the money is never paid and is not able to be recovered. One business has already lost $500,000 alone.

Exchange Attacks Jeopardising the Future of Cryptocurrency? – 7 June 2019

Cryptocurrency security threats are global, with a new variety of cases every year with losses surpassing $1billion. It is believed that the issues lie in the systems that have been created around the technology, such as cryptocurrency exchanges, wallets, custodians, security companies and ICO platforms. Article describes relevant security solutions.

Australia targets cryptocurrencies in international tax crackdown – 6 June 2019

Australian tax officials are investigating a dozen transnational high-end tax avoidance schemes detected by the J5 (Joint Chiefs of Global tax Enforcement) The J5 consists of criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States who are committed to collaboration in the fight against international and transnational tax crime and money laundering.

Former bank executive has tax evasion conviction quashed – 6 June 2019

The NSW Court of Criminal Appeal directed that a verdict of ‘acquittal’, be entered for charges of tax evasion and money laundering, for former finance professor and Macquarie bank executive Dr Tony Castagna and accountant Robert Agius. This was mainly because the events took place 10-20 years ago, the men had faced a lengthy trial and had already spent time in jail.

Cyber Criminals Are Making Bank Using Stolen Doctor Credentials On The Dark Net – 6 June 2019

new report by a leading cybersecurity firm finds that 83% of healthcare organisations have been a target for criminal hackers due to the premium that black markets place on private health information—and in particular, the credentials of physicians that can be used to facilitate health insurance fraud.

ASIC spotlight on Sterling First firms over ‘serious allegations’ of misconduct before collapse – 5 June 2019

A WA property investment and management group (Ferrier Hodgson) that went under last month, was being investigated by the corporate regulator and facing “serious allegations” of misconduct. The allegations include misleading or deceptive conduct, unconscionable conduct and breaches of conduct.

Australian National University: 19 Years of Data Copied – 4 June 2019

Australian National University has detected a data breach that resulted in the copying of staff and student data stretching back 19 years. The compromised data includes names, addresses, birth dates, phone numbers, personal email addresses, emergency contact details, tax file numbers, payroll information, bank account details, passport details and student academic records. Australia took quick action after the breach, but in the process of remediation destroyed forensic evidence that may have provided more clues about the attackers.

The AFP raiding a journalist is about silencing whistleblowers, not the press – 4 June 2019

The Australian Federal Police turned up on the doorstep of the Newscorp journalist Annika Smethurst, in reference to her 2018 article that reported that the defence and home affairs ministries had discussed vast new powers to allow the Australian Signals Directorate (ASD) to spy on Australian citizens.  News Corp Australia said that the raid was outrageous and seeks to punish a journalist for reporting a legitimate news story that was clearly in the public interest.

ATO whistleblower facing 161-year prison sentence says he ‘almost died from the stress’ – 3 June 2019

Former ATO worker Richard Boyle became an internal whistleblower in 2017. Mr Boyle alleged ATO staff were instructed to use an aggressive debt collection practice on taxpayers without consideration of their circumstances.  He has broken his silence on the personal toll of speaking up and facing a prison sentence of 161 years if found guilty.

Almost 100,000 Australians’ private details exposed in attack on Westpac’s PayID – 3 June 2019

The private details of almost 100,000 Australian bank customers have been exposed in a cyber-attack on the real-time payments platform PayID. PayID allows the instant transfer of money between banks using either a mobile number or an email address. There is a risk that the stolen data could be used for fraud on a mass scale.

As privacy is lost a fingerprint at a time, a biometric rebel asserts our rights – 3 June 2019

Jeremy Lee, a sawmill worker Queensland, refused to have his fingerprints scanned for a new security system introduced by his employer to replace swipe cards. He was sacked and he lodged an unfair dismissal claim that was rejected. He then won his appeal before a full bench of commissioners. Great article that discusses about the vulnerability of biometric data.