The following are articles relevant to the Professional Investigator. Click on the title to make a comment or join the conversation.
When can an HR professional be held personally liable? – 22 June 2018
As data released by the Fair Work Ombudsman shows, there is an increasing trend to name third parties like HR practitioners in claims for breach of the Fair Work Act. Developments in relation to labour hire licensing laws and proposed whistleblowing laws should also be carefully monitored as they too may render individuals personally liable.
https://www.hcamag.com/hr-news/when-can-an-hr-professional-be-held-personally-liable-251483.aspx
Seb Monsour, Campbell Newman’s brother-in-law, charged with fraud – 22 June 2018
It is alleged that the chief executive of real estate development company Majella Group accepted $5 million from a Chinese entrepreneur, who sought to invest the money. Instead, Mr Monsour allegedly channelled the money into other investments, including a US ski resort and an inner-Brisbane hotel redevelopment, as well as Majella Group expenses, such as debts and wages. It also alleged he had no authority, appropriate licence or credentials to manage investments.
http://www.abc.net.au/news/2018-06-21/sebastian-monsour-charged-with-fraud/9894870
Taxi drivers in Melbourne reporting charming British couple scamming their way around town – 21 June 2018
A new take on a classic fraud, the overpayment scam catches cabbies out. Victoria Police did not comment but Scam Watch, run by the Australian Competition and Consumer Commission, reports 176 “overpayment scams” were recorded in May this year alone, costing Australian victims $68,449.
Ex-Anglo Irish Bank chief jailed for six years for fraud – 21 June 2018
The former chief executive of Anglo Irish Bank has received a six-year prison sentence after his conviction for a €7.2bn fraud and false accounting at Ireland’s failed lender.
ASIC criticised as investigations halve as some powers go unused – 19 June 2018
The Australian Securities and Investments Commission is performing fewer investigations, issuing fewer breach notices and completing fewer criminal cases than the regulator has at any other time over the last three years according to information provided by the federal government.
Researchers develop tech that lets surveillance cameras text to say hello – 19 June 2018
Researchers at Purdue University have found a new way to get surveillance cameras to “talk” to the people they see. The system is called PHADE, which stands for “private human addressing”, and it enables cameras to send messages to people’s devices when they have entered a specific area without collecting their personal data. Like many aspects of retail surveillance, police departments would undoubtedly be interested in the technology as well.
Labor to back whistleblower laws for SA, as Parliament get set to debate fine detail – 17 June 2018
The Lower House of the South Australian Parliament has approved the long-stalled reform, which would allow journalists to refuse to disclose confidential sources without fear of fines or prison.
The mother of all crypto scams’: Bitcoin’s price manipulated during ‘meteoric rise’, researchers find – 15 June 2018
Already down more than 50 per cent from its peak at the height of crypto-mania last year, bitcoin has been battered this week by fresh claims its price has been artificially manipulated by the digital currency tether.
Apple wins praise for adding ‘USB Restricted Mode’ to secure iPhones – 15 June 2018
Apple confirmed today it will close a security hole that has allowed law enforcement officials, working with forensic companies, to break into iPhones to retrieve data related to criminal investigations.
‘The mother of all crypto scams’: Bitcoin’s price manipulated during ‘meteoric rise’, researchers find – 15 June 2018
Already down more than 50 per cent from its peak at the height of crypto-mania last year, bitcoin has been battered this week by fresh claims its price has been artificially manipulated by the digital currency ‘Tether’. Tether is a so-called “stablecoin” pegged at one-to-one value with the US dollar. Its alleged that Tether is actually being printed out of thin air, without corresponding dollar deposits thereby pushing cryptocurrency prices up.
Man behind Fyre Festival disaster busted for scamming attendees – again – 14 June 2018
Billy McFarland, the promoter of the disastrous Fyre Festival went back to defrauding people after he was arrested last year. He was rearrested Tuesday and charged with earning $130,000 by selling fake tickets to exclusive fashion, music and sporting events through NYC VIP Access, a company he controlled.
Judge scolds lawyers for ‘epistolary grenades’ in $8M fraud case – 13 June 2018
Article talks about a civil case connected to an $8 million fraud by a former solicitor (Brody Clarke) with law firm Atanaskovic Hartnell. Clarke, which allegedly funnelled the clients’ funds into a personal Westpac bank account and gambled it away, faces criminal charges.
https://lawyerly.com.au/judge-scolds-lawyers-epistolary-grenades-8m-fraud-case/
Don’t get caught out by these tax time scams – 13 June 2018
As the end of the financial year looms on June 30, it’s a peak time for scammers, who bank on hitting businesses and individuals with official-looking emails and texts from financial institutions, and government agencies including ASIC, Australian Taxation Office (ATO), CBA and NETFLIX
Scandal-plagued Dover Financial shuts down, as ASIC investigation continues – 11 June 2018
One of Australia’s largest financial advice firms, scandal-plagued Dover Financial, will shut down its business by early July, amid an ongoing investigation by ASIC on its client protection policy at the banking royal commission.
Uniting Church sues former accountant to recover stolen funds – 8 June 2018
THE Uniting Church’s Queensland Synod is trying to recover more than a million dollars from a former group accountant for its agencies who was jailed two years ago for fraud.
New scheme for deals with corporate crims – 8 June 2018
Alleged corporate criminals could be able to negotiate penalties for serious misconduct and avoid convictions under a proposed new scheme.
https://www.9news.com.au/national/2018/06/08/00/02/new-scheme-for-deals-with-corporate-crims
Online fraud losses hit US$3 billion-plus as cyber crime threats grow – 7 June 2018
Cyber crime is booming and online fraud is growing fast to become one of the most harmful corporate fraud categories identified by the FBI in the US. Cybercrime is growing so fast because most companies are not prepared and online fraud is a relatively easy and low-risk crime.
Newcastle Knights corporate sales executive Matthew Ninness accused of defrauding club – 6 June 2018
A NEWCASTLE Knights corporate sales executive is behind bars accused of defrauding the club of more than $150,000 by “selling” corporate boxes and season tickets to made-up business owners.
https://www.theherald.com.au/story/5452954/knights-employee-in-hot-seat-over-sales/
PageUp data breach forces Coles, Aus Post and more to close careers websites – 6 June 2018
Human resources management software company PageUp, which services many of the ASX200, has been forced to alert clients that their data could have been compromised thanks to a data breach, forcing major employers across the country to suspend their careers websites.
How Danske Bank mastered data analytics – 5 June 2018
Denmark-based Danske Bank Group is using a ‘one-tribe’ approach to push its data analytics strategy in order to improve operations, enhance customer experiences and prevent and detect fraud.
https://www.cmo.com.au/article/641846/how-danske-bank-embarked-journey-master-data-analytics/
Arms race for surveillance tech in China – 4 June 2018
Vendors at a recent Beijing exhibition of police equipment were touting surveillance technology that can rip data from phones and even crack Apple’s iOS system. Human rights groups are concerned.
Commonwealth Bank to settle AUSTRAC action for $700 million – 4 June 2018
AUSTRAC (Australian Transaction Reports and Analysis Centre) took action against CBA for serious shortcomings in CBA’s anti-money-laundering compliance regime. Most of which related to the bank’s Intelligent Deposit Machines (IDMs).
https://www.computerworld.com.au/article/641884/commonwealth-bank-settle-austrac-action-700-million/
Should auditors be held liable if they miss fraud? – 1 June 2018
A leading global fraud study from the Association of Certified Fraud Examiners (ACFE) reveals that as a means of detecting fraud, external audit only features in 3 per cent of detected fraud cases. AIPI member: Roger Darvall-Stevens explains that the top three methods by which fraud is detected are tip-off, internal audit, and management review.
https://www.intheblack.com/articles/2018/06/01/auditors-liable-failure-detecting-fraud
ANZ facing criminal cartel charges by the Commonwealth Director of Public Prosecutions – 1 June 2018
ANZ is facing criminal charges by the Commonwealth Director of Public Prosecutions over alleged cartel conduct related to a $2.5 billion share placement in 2015.
VOFF alleges that ASIC gave criminal an AFSL – 31 May 2018
Victims of Financial Fraud (VOFF) has added to its litany of accusations against the Australian Securities and Investments Commission (ASIC), alleging that the regulator failed to acknowledge that it allowed known criminals into the financial system regarding the Trio Capital fraud.
https://www.moneymanagement.com.au/news/financial-planning/voff-alleges-asic-gave-criminal-afsl
The risk from within: employee fraud and theft – 31 May 2018
With high profile news stories about data theft and cyber-attacks, business are now more focused on managing risks from these external sources as opposed to risks from within the business. The good news is there are a number of simple steps a business can take to reduce the risk of loss from employee fraud and theft.
Chinese scammers fake kidnap for millions – 31 May 2018
Fraudsters targeting Chinese expats in Australia and other western countries are scamming millions of dollars from people by impersonating consulate staff, threatening violence and forcing their victims to stage their own kidnapping.
https://www.sbs.com.au/news/chinese-scammers-fake-kidnap-for-millions
A law shielding South Australian journalists from liability for refusing to reveal their sources has passed state parliament’s lower – 31 May 2018
The Liberal government on Wednesday passed legislation to shield journalists from criminal or civil liability if they do not disclose the identity of their sources when the information is in the public interest.
Australia: How will corporations be affected by imminent new foreign bribery and whistleblower laws? – 30 May 2018
In this article, we discuss what can be expected from these changes and how they will impact upon corporations.
Workplace restorations can help after investigations – 28 May 2018
After a harassment investigation or mediation over inappropriate behaviour in a workplace, lawyers say the environment can become toxic to employees. Employment lawyers say that a workplace restoration process is a better way of dealing with the fallout of investigations and can help to return a sense of normalcy to a workplace.