News and Analysis
The following are articles relevant to the Professional Investigator. Click on the title to make a comment or join the conversation.
A former Apple lawyer who oversaw the company’s insider trading policy has been indicted on insider trading charges. Prosecutors allege Gene Levoff traded shares based on his knowledge of Apple’s financial results before they were made public.
PayID allows payments to be made in real-time between banking accounts. The system has been the victim of hacker misuse twice this year, highlighting just how vulnerable the nation’s real time payments infrastructure is. The August incident involved customers of the big four banks (NAB, CBA, ANZ and Westpac)
Crown Resorts on Trial: Australian Federal Officials to Testify in Corruption Investigation – 23 October 2019
ASIC will interview current and former federal government officials at a series of public hearings next week as part of its investigation into the “visas for high rollers” scandal involving Crown Resorts.
Forensic accountants are investigating whether a director of a company associated with failed Melbourne property developer Steller “misappropriated” $15 million of investor funds in the lead-up to its sudden collapse earlier this year.
Federal police have charged former Australian intelligence official Roger Uren with breaching secrecy laws after ASIO discovered a cache of classified files during a raid on his home in late 2015. Yan has been charged with bribing the former president of the United Nations General Assembly, John Ashe.
Bernard Collaery, the barrister and one-time attorney general of the ACT calls for a new independent parliamentary body for defence and intelligence whistleblowers. Currently there is no real outlet to raise concerns.
The Reserve Bank of Australia (RBA) has confirmed that the first version for a new federated identity credential known as “TrustID” has been completed. Used in conjunction with online card payments as well as other online transactions, the use of digital identity has the potential to seriously reduce payments fraud worth more than $470 million a year.
The report by the Social Policy Research Centre (SPRC) found that the use of security cameras could help people experiencing domestic and family violence stay safe in their homes. There is a risk however that this technology may also be used to perpetrate abuse.
A report by the Independent Commission Against Corruption (ICAC) showed that 16 of 16 whistleblowers faced reprisals in NT Government workplaces and that new guidelines are to be rolled out across NT Government agencies
Research shows that corruption and fraud in charities are among some of the most common compliance-breaches reported to the Australian Charities and Not-for-profits Commission. Article explains that awareness, triple checking and having multiple key personnel on the job help to avoid fraud.
Online fraud attacks originating from fake mobile applications that appear to be from legitimate banks almost trebled in the first six months of 2019, according to RSA’s Fraud and Risk Intelligence (FRI) team, which has just released its latest report diving into the world of online fraud campaigns.
Two sets of brothers falsified pay slips to apply for 106 loans between 2015 and 2017. The men would list each other as referees and provide bank records, listing false wage deposits funded by transfers between their own accounts.
Judge shows ‘mercy’ in jailing Melbourne couple who used fake law firm to scam insurance agency – 18 October 2019
A Melbourne couple who scammed $17 million from their employer by sending false invoices, were given lesser jail terms because of their two young daughters.
The Queensland police service says it cannot find records of whistleblower complaints (a public interest disclosure register) despite being required by law to keep them. This appears at odds with previous statements about having the information.
Organised crime costs the Australian economy up to $47 billion each year. People travelling in and out of Australia may soon have to declare all forms of non-cash money over $10,000. (e.g cheques and travellers cheques).
With only 11 weeks to go until Whistle blowing policies must be implemented, ASIC has issued a Draft Regulatory Guide to assist organisations, however the guide may risk the hindering the objectives of the Whistleblower Protections Act, because some provisions appear to extend an organisation’s obligations beyond what is required and seek to impose a detailed and complex policy.
National Australia Bank (NAB) has launched the Small Business Cyber Security Summit & tool kit to help businesses understand how they can better protect themselves from Cybercrime.
Make-up techniques a potential weapon against unwanted facial recognition surveillance – 15 October 2019
Australian Government is currently reviewing a bill, that if successful, would allow the Department of Home Affairs to draw biometrics from driver’s licence photos and share it across Commonwealth, state and territory agencies for identity matching. In the meantime, scientists in Europe are working to overcome so-called “obfuscation” and “impersonation” techniques (such as make up to make a person look old) that allow people to fly under the radar from unwanted surveillance.
Domestic abuse perpetrators intimidate, threaten, stalk, and monitor their victims by sending abusive texts, hiding GPS devices in toys and use fake Facebook and Instagram accounts. Article explains that these types of Technology-facilitated coercive control (TFCC) techniques require the use of innovative cybersecurity responses.
Calls for Crown casino inquiry after leaked video of bricks of cash in junket room – 13 October 2019
More allegations of money laundering, machine tampering, drug running and domestic violence at the casino have come to a head as video footage has emerged.
Crown is a law unto itself’: Demands for royal commission as new whistleblower speaks out – 13 October 2019
Melbourne’s Crown casino faces fresh demands for a royal commission into allegations that the venue brings overseas high rollers into Australia without customs checks.
Due to ASIC being removed as a statutory agency under the Public Service Act (allowing it more freedom to hire)- its own staff have not been protected by the Public Interest Disclosure Act. It is claimed that the oversight will be rectified.
Cybercriminals have now begun to modify existing sextortion scams by demanding payment from victims in cryptocurrencies other than Bitcoin and are using PDF documents. This is so they can’t be picked up in write detection tools used by Secure Email Gateways.
Former ATO public servant Richard Boyle faces the prospect of life in prison for blowing the whistle on the ATO. Mr Boyle’s submission to a federal inquiry claims the tax watchdog, the Inspector-General of Taxation, failed to offer “independent, open and transparent analysis” of his case.
iSignthis has been forced to hand over its books and records to the ASIC as part of a major investigation into the group’s disclosures to shareholders, revenue performance and shares issued to top executives. Shares were also suspended from trading.
A forensic investigation into the high-profile cyber-attack on the Australian National University has found it was an ‘extremely sophisticated’. China has been reported as the prime suspect in the attack, with intelligence officials fearing the data stolen could be used to compromise university alumni pursuing careers with the Australian government.
Lynas Corporation has revealed a big increase in the cost of directors insurance coverage after ASIC investigated their Wesfarmers takeover tilt.
Paper explains the legal obligations of a company director and the extent to which a director can be personally liable for the actions of their company.
Computer networks in at least seven major regional hospitals were in lockdown after a widespread ransomware attack shut booking systems, delayed surgeries and revived fears over patient information security.
ASIC has found that a project manager at Darebin Council took cash, gifts and other benefits from a road contractor while awarding the firm more than $16 million in work.