Players in alleged $200m GST scam turn on each other in court – 28 March 2025
The Tax Office claims collapsed hospitality group Virtical accrued $120 million in fake GST refunds to fund its purchase of iconic pubs in Sydney and Melbourne – in what would count as the biggest GST fraud in the country’s history if proven. At the hearings, former directors Mark Toma and John Palasty pointed fingers at each other over the tens of millions of dollars of GST claims based on $1.2 billion in construction work that the ATO claimed did not happen.
Government report backed ABC revelation of hidden links between Brisbane casino owner and crime figure – 28 March 2025
The Crisafulli government has released an investigation report finding Brisbane casino co-owner Chow Tai Fook had a “concealed relationship” with a criminal junket boss — substantiating a revelation by the ABC in 2022. The former government took legal advice that it was “open” to finding Chow Tai Fook unsuitable as a casino owner, but would face challenges proving it “deliberately” misled the regulator.
https://www.abc.net.au/news/2025-03-28/brisbane-casino-owner-falsely-denied-business-ties/105105808
Queensland financial adviser banned by ASIC for five years – 29 March 2025
ASIC has issued a five-year ban against Queensland-based financial adviser, Grant Richard Thomson. The regulatory body found that Thomson consistently failed to act in his clients’ best interests when providing financial advice. Specifically, the advice on insurance often included recommendations for levels of coverage that factored in mortgages clients had not yet secured.
Football and media personality Eddie McGuire used in deepfake financial advertisement – 31 March 2025
Scammers have used footage of Eddie McGuire in a deepfake advertisement that alters his speech to make it sound like he’s promoting a financial investment opportunity. McGuire says it’s not the first time his image has been used, and that he has encountered roadblocks in getting fake videos removed from social media in the past.
https://www.abc.net.au/news/2025-03-31/vic-eddie-mcguire-deepfake-video-financial-scam/105115764
US music star Sean Kingston faces ‘decades’ behind bars as he and his mother are found guilty of fraud – 31 March 2025
Sean Kingston and his mother were found guilty of swindling more than $1 million from car dealerships, banks, jewellers, and even a mattress company using fake documents to score luxury goods, including a bulletproof Escalade and a colossal TV.
Corporate regulator gets down to business in 1Q25 – 31 March 2025
ASIC was active in the first quarter of 2025 with several financial adviser banning’s and serious court action. Article details the most significant action announced by ASIC or the FSCP in the first three months of the year.
Building in Philippines hides dark secret ripping off Aussies – 1 April 2025
Corporate offices (aca “boiler rooms”) across Asia are hiding scammers who are pretending to be romantic partners, crypto enthusiasts and investment gurus to defraud victims online. The AFP announced it had deployed two cybercrime experts to support AFP liaison officers in the Philippines in tackling the problem.
Scams and card fraud on the rise – 2 April 2025
Over two million Australians experienced card fraud and 675,000 responded to a scam in 2023-24, according to new results from the Personal Fraud Survey (PFS) released by the Australian Bureau of Statistics (ABS).
https://www.abs.gov.au/media-centre/media-releases/scams-and-card-fraud-rise
Grant Thornton outlines critical preparations for AML regime – 2 April 2025
Businesses should prepare for ‘once in a generation’ amendments to Australia’s anti-money laundering (AML) and counter-terrorist financing (CTF) rules, set to take effect in March 2026, Grant Thornton said. Per AUSTRAC, the reforms would bolster Australia’s ability to effectively deter, detect and disrupt money laundering and terrorism financing.
EVP claims StrongRoom founder admitted to fraud, faked accounts – 3 April 2025
One of StrongRoom AI’s biggest investors alleges the start-up’s founder admitted to fraud and faked information to win a government research grant, while a director used its accounts to pay for a trip to Morocco.
Scams cost Australian small businesses AUD $7.9 million – 3 April 2025
In 2024, small businesses across Australia experienced losses amounting to AUD $7.9 million due to scams. This figure, although significantly reduced from the AUD $17.3 million loss in the previous year, remains a significant burden for the business sector. The analysis identifies false billing as the most frequently reported type of scam, with 422 reports and a combined loss exceeding AUD $3.6 million. Despite the lower frequency of investment scam reports, these accounted for the highest losses per incidence, with an estimated total of over AUD $3.7 million from just 50 reports.
https://securitybrief.com.au/story/scams-cost-australian-small-businesses-aud-7-9-million
Melbourne man faces eviction after moving into home linked to suspected NDIS fraudster – 3 April 2025
An ABC investigation has found businesses linked to a suspected NDIS fraudster failed to pay the rent on residential properties, leaving people with disabilities facing eviction. Property owners say they’ve been left to clean up tens of thousands of dollars of damage. The businesses are linked to Melbourne man Khawaja Moeen Haroon, who is at the centre of a multi-agency probe investigating a suspected multi-million-dollar fraud, but denies the allegations.
https://www.abc.net.au/news/2025-04-03/ndis-participants-eviction-khawaja-moeen-haroon/105107014
Victorian crime figure Tony Mokbel granted bail by Court of Appeal, as he fights to overturn drug convictions – 4 April 2025
Victorian crime figure Tony Mokbel has been granted bail in Victoria’s Court of Appeal. Mokbel’s lawyers successfully argued there were “exceptional circumstances” that warranted his release. Mokbel will be subject to extensive bail conditions, including wearing an ankle monitor and reporting daily to police.
https://www.abc.net.au/news/2025-04-04/tony-mokbel-victoria-crime-boss-bail-decision/105135556
