The following are articles relevant to the Professional Investigator. Click on the title to make a comment or join the conversation.
Alleged cyber criminals in Adelaide, Sydney charged over $11 million identity theft – 6 February 2020
Three people in Adelaide and Sydney have been accused of stealing more than $11 million by hacking into businesses and modifying payroll, superannuation and credit card details. Money was then transferred to other bank and cryptocurrency accounts.
Why every business needs a whistleblower policy – 6 February 2020
Article outlines excellent reasons why small business should proactively develop and implement a whistleblowing policy, even though it may not be mandatory for them to do so.
http://smartcompany.com.au/business-advice/legal/whistleblower-policy-sme-startups/
Racing identity Bill Vlahos faces prison after $17.5m punting Ponzi scheme exposed – 5 February 2020
Bill Vlahos has been accused of committing fraud totalling $17.5 million through his punting club ‘The Edge’. He tricked more than 70 people into thinking he had a secret formula for picking winners and sent them fake information.
http://abc.net.au/news/2020-02-04/bill-vlahos-ponzi-scheme-plea-hearing/11930148
Hyper-Realistic Masks Are Extremely Hard To Spot – 5 February 2020
Hyper-realistic silicone masks can help criminals to commit identity fraud. The task is to find ways to improve people’s rates of detecting when someone is wearing a mask.
http://gizmodo.com.au/2020/02/hyper-realistic-masks-are-extremely-hard-to-spot/
Toll Group confirms “targeted” ransomware attack – 4 February 2020
Toll Group, the logistic giant confirmed it is the victim of a “targeted ransomware attack” . They have immediately isolated and disabled IT systems to stop the malware from spreading and are investigating the criminal activity.
Why Hayne succeeded where ASIC was overlooked – 4 February 2020
ASIC revealed widespread problems with banks charging fees for no services in 2016. It was met with excuses and lies. It took a royal commission to bring accountability and public confessions.
(Subscription to AFR required to read article.)
Poor security habits leave credit card holders exposed to fraud – 4 February 2020
Research shows that for the year to June 30, 2019, “card not present” (CNP) activity accounts for 86.3 per cent of all fraud on cards. CNP fraud occurs when valid card details are stolen and used to make purchases or other payments without the card, typically online. Good article explaining how to avoid CNP fraud.
Fake coronavirus warning emails could infect your computer – 3 February 2020
Victims are sent an email warning coronavirus has been discovered in their local area, with a file attached regarding infection prevention measures. The file contains a dangerous type of malware campaign capable of stealing banking logins, financial data, and even emptying cryptocurrency wallets.
Jail for Latvian fraudster with expensive taste – 3 February 2020
Mr Malisevs defrauded ANZ and the Commonwealth Bank of Australia out of $411,906. He used EFTPOS machines linked to bank accounts he set up under false identities and sent money overseas using the cryptocurrency bitcoin.
(Subscription to AFR required to read article.)
ASIC poised to launch 20 more Hayne cases – 1 February 2020
ASIC claims that cases related to the Banking Royal commission are coming to a close and that up to 20 or more prosecutions will eventuate – some with jail terms.
(Subscription to AFR required to read article.)
Perth’s facial recognition cameras prompt scowls – and a campaign to stop ‘invasive’ surveillance – 1 February 2020
Perth City Council has reportedly been filming and tracking people moving around parts of the city without their knowledge for six months. People being wrongly identified by cameras is still a concern.
https://thenewdaily.com.au/news/national/2020/02/01/perth-facial-recognition/
Warning after sophisticated $149m scam – 1 February 2020
The Australian Taxation Office (ATO) has issued an urgent warning over an elaborate tax scam which sends you an SMS and links you to an unofficial website and asks users to input bank details.
http://gladstoneobserver.com.au/news/warning-after-sophisticated-149m-scam/3934207/
4 global fraud payment trends to expect in 2020 – 30 January 2020
Article discusses how Social engineering, identity fraud, behavioral biometrics and machine learning are the top concerns for businesses in 2020.
http://mytotalretail.com/article/4-global-fraud-payment-trends-to-expect-in-2020/
http://mytotalretail.com/article/4-global-fraud-payment-trends-to-expect-in-2020/
Investigating Uber: more lawyers than drivers – 29 January 2020
Uber is under investigation for undertaking tax arrangements such as moving assets from Bermuda to the Netherlands in order to create tax deductions. An interesting independent review of Uber directors, their locations and Uber driver contract agreements.
https://www.michaelwest.com.au/investigating-uber-more-lawyers-than-drivers/
Your right to know under threat: Police accessed metadata of journalists 20 times in one year and secretly obtained private information from six to find their sources – 29 January 2020
Federal telecommunications access laws enable Australian Federal Police officers to access both an individual reporter’s and their employer’s data. This is when a journalist information warrant has been granted. AFP raids over the last year, prompted the ‘Australia’s Right To Know’ campaign, resulting in a need for freedom of information reforms, whistleblower protections and public interest exemptions, from national security laws.
Treasurer considers axing commission loophole for listed funds – 28 January 2020
Treasurer Josh Frydenberg, is looking into closing a loophole that allows financial advisers or stockbrokers to receive lucrative commissions, for selling poorly performing listed investment funds to mum and dad investors.
(AFR subscription required to read article.)
OAIC investigates ‘dangerous’ face recognition app – 28 January 2020
The Australian Privacy Commissioner has launched an inquiry into “Clearview AI”, a facial recognition app. It claims that by using a photo of a suspect the App could find other images and information about them across the internet. The app has led to serious concerns over privacy and the invasive and unreliable nature of facial recognition technology.
https://www.innovationaus.com/oaic-investigates-dangerous-face-recognition-app/
Australia’s Reserve Bank considering ethereum-based blockchain – 28 January 2020
Its up to the Australian regulators to make sure that digital crypto currency transactions grow and are ‘safe’. Australia is now considering the launch of its own, Reserve Bank-regulated cryptocurrency – CBDC (Central Bank Digital Cryptocurrency).
https://www.coinnewsspan.com/australias-reserve-bank-considering-ethereum-based-blockchain/
Canberra urged to join the data sharing action – 27 February 2020
The Commonwealth Bank has argued that greater access to public and private data (like ATO data) could help to reduce fraud, regulatory costs and credit risks. This is part of the new ‘open banking’ system that will allow consumers to securely share bank-held financial records.
Senior loses life savings to Bitcoin scam on Microsoft’s MSN.com – 25 January 2020
A 75-year old woman lost her life savings to a Bitcoin investment scam being advertised on Microsoft-owned MSN.com. MSN is addressing techniques to detect, block and remove fraudulent advertisement. Ads for similar scams are also appearing on other trusted websites including Yahoo and AOL.
http://micky.com.au/senior-loses-life-savings-to-bitcoin-scam-on-microsofts-msn-com/
Privacy fears as London police to begin using facial recognition technology – 25 January 2020
London already has one of the highest concentrations of CCTV cameras in the world and now new ‘facial recognition’ cameras will scan the faces of people passing through small targeted areas. Rights groups say it threatens civil liberties and represents an expansion of surveillance.
Brainwave activity that reveals knowledge of crime – 16 January 2020
An innovative research project that detects brain activity revealing individuals’ knowledge of criminal behaviour is delivering positive results for a University of Canterbury (UC) led research team. It is called Forensic Brainwave Analysis (FBA) technology and uses an EEG (electroencephalogram).
http://miragenews.com/brainwave-activity-that-reveals-knowledge-of-crime/
The importance of whistleblowers in the war on white-collar crime – 15 January 2020
Professor and researcher Rahat Munir, head of the Department of Accounting and Corporate Governance at Macquarie University’s Business School, discusses the many ways in which organisations can fall victim to fraud and discusses why employees who witness wrongdoing, fear being stigmatised at work, if they blow the whistle.
Australia: National Security Laws Chill Free Speech – 14 January 2020
In the “World Report 2020” Human rights groups have stated that Australia’s national security laws and police actions against journalists and whistleblowers are having a negative effect on freedom of expression. Great article summarising the effects of these laws in Australia and across different parts of the world.
https://www.hrw.org/news/2020/01/14/australia-national-security-laws-chill-free-speech
Bushfire Charity Scams: What To Look Out For – 14 January 2020
Good article describing the types of scams being used by heartless thugs, trying to benefit from the bush fire crises. This includes fake fundraising pages, sending fake emails to phish for cash or people pretending to be legitimate or well-known charities or fundraising organisations.
http://gizmodo.com.au/2020/01/bushfire-charity-scams-what-to-look-out-for/
Corporate Governance: The Unfiltered Truth – 13 January 2020
Having ‘Good corporate Governance’ is now considered vital to business success and return. To effectively deliver on corporate governance, organisational leadership needs the ability to reliably access, interpret and act on information. Increasingly, this requires integrating non-financial data to allow board members a more holistic view of the firm’s overall strategy, risks and performance.
http://nationaldefensemagazine.org/articles/2020/1/13/corporate-governance-the-unfiltered-truth
Police charge woman with 106 new offences in fraud investigation at Lake Illawarra – 13 January 2020
Police allege a woman on Illawarra used the identification of multiple people across the state to obtain personal loans, fuel cards and mobile devices without their permission, as well as forge medical certificates to avoid performing unpaid community service work. She has been arrested.
Proposed cash ban is not about controlling your money, says Reserve Bank – 13 January 2020
The Reserve Bank has said the motive for the Federal Government’s $10,000 cash limit bill is to fight the black economy, by stamping out tax evasion, money laundering and other crimes. A Senate inquiry into the proposed law has received thousands of submissions, with many concerned it gives the banks and authorities too much control and could mean ordinary workers being inadvertently prosecuted.
WA uni drops part of lawsuit against academic ‘whistleblower’, after cutting ties with agency he exposed – 13 January 2020
Murdoch University has dropped a major section of its lawsuit against Professor (Gerd Schroder-Turk) who blew the whistle over questionable international student intake practices. The professor claimed international students recruited via an Indian-owned agency were being set up for failure. The University has seen backlash from the tertiary community over the impact the legal action could have on academic freedom of speech.
Lamborghini-driving drug accused fights AFP for return of assets – 12 January 2020
Mr Karagiozis, founded Australian cryptocurrency Auscoin and opened up many Bitcoin ATMs and souvlaki stores across the country. Officers from the AFP allege that Mr Karagiozis and his criminal syndicate used the dark web and Bitcoin accounts for the sourcing, payment and distribution of 30kgs of drugs as part of a multimillion-dollar importation operation.