‘Devastating’: The scams to watch out for as Australians complain in record numbers – 31 October 2024
The number of scams in Australia has hit a record high, according to a new annual report from the (AFCA). The complaints rose by a whopping 81 per cent in 2023-24. That means almost 11,000 Australian have made complaints about being scammed. The report found phishing, spoofing and remote access scams were widespread, while there had also been a “significant” increase in bank impersonation scams.
Ex-bank worker avoids jail over FB Marketplace scams – 31 October 2024
A former bank worker who scammed Facebook Marketplace users out of thousands of dollars, has avoided jail, with a judge describing some of his offending as “hopeless”. Daniele Biglietto pleaded guilty to 37 counts of financial fraud, which he claimed resulted from addictions to cocaine and gambling.
https://www.northweststar.com.au/story/8807883/ex-bank-worker-avoids-jail-over-fb-marketplace-scams/
Victoria Police Seize $142,679 in Crypto Under New Legal Framework – 1 November 2024
Victoria Police have been hard at work over the past 12 months, raking in nearly $150k worth of crypto from the wallet of criminals. This is a new ability for the Australian law enforcement agency, with legislation now allowing VicPol to seize digital assets with a search warrant.
ASIC expands probe into ANZ’s alleged bond market manipulation – 1 November 2024
The chairman of the Australian Securities and Investments Commission, told a parliamentary joint committee in Sydney that the high-profile investigation into ANZ’s role in a $14 billion government bond sale had been expanded to include misreporting of data. He also stated that the potential for the alleged conduct to impact the interest payments of the Commonwealth on the bonds issue will effect Australian taxpayers.
Ex-CEO of cryptocurrency exchange platform charged with stealing over 2 million AUD from a customer – 4 November 2024
The former chief executive officer (CEO) of crypto exchange Mine Digital is facing a fraud charge for allegedly withholding 2.2 million AUD a customer paid for Bitcoin (BTC) in July 2022. The Australian Securities and Investments Commission (ASIC) has officially charged Grant Colthup, the chief of the now-defunct exchange platform.
AFP raids PwC offices as tax leaks investigation further unfolds – 4 November 2024
The Australian Federal Police raided PwC Sydney offices recently in the most recent development in the tax leaks scandal. The investigation was dubbed Operation Alesia and has been in action since May last year. The original tax scandal emerged from former PwC partner Peter Collins sharing confidential information about tax law changes with other partners. Those partners used that information to win new clients and develop new structures that sidestepped the laws the firm was helping to design.
https://www.accountingtimes.com.au/tax/pwc-scandal-persists-with-afp-office-raid
Construction insiders fear speaking out against CFMEU without whistleblower protections – 4 November 2024
Due to fear, coupled with the absence of whistleblower protections for contractors wanting to disclose their experiences with the CFMEU, insiders say the CFMEU administration process will only scratch the surface of what has been happening in the sector.
The law firms trawling through corporate scandals – 7 November 2024
Major firms have grown their teams and boutique competitors have emerged, as solicitors increasingly choose to steer investigations themselves – from the evidence-gathering all the way to the reporting stage – rather than engage outside counsel.
ATO whistleblower Richard Boyle to face trial after high court refuses attempt to appeal – 7 November 2024
A South Australian court’s decision that federal whistleblower protections do not grant immunity for criminal acts committed while gathering evidence will stand, after the high court refused Richard Boyle’s attempt to appeal it. He will soon face a criminal trial in Adelaide for 24 offences, including the alleged use of his mobile phone to take photographs of taxpayer information and to covertly record conversations with colleagues.
Albanese Government introduces landmark Scams Prevention Framework – 7 November 2024
Landmark legislation establishing the Scams Prevention Framework will be introduced into Parliament on 7 Nov. The Australian Competition and Consumer Commission (ACCC) will have new powers to direct businesses to take specific steps to keep their customers safe from scammers and the Australian Financial Complaints Authority (AFCA) will be empowered to resolve consumer claims over scams in these sectors. The Scam Prevention Framework will include fines of up to $50 million for non compliance.
