ASIC seeks to appeal decision involving former Rex directors
ASIC is seeking leave to appeal a NSW Supreme Court decision that cleared three former Rex Airlines non-executive directors of breaching their directors’ duties in relation to a 2023 profit forecast. The case follows separate proceedings in which former chairman Lim Kim Hai was disqualified for four years and ordered to pay an $800,000 penalty. It raises important questions about directors’ responsibilities, financial disclosures and corporate governance.
https://www.law360.au/au/financial-services-au/news?page=2&utm_source=chatgpt.com
Star Casino fined $260 million for historical money laundering violations – 28 October 2026
The Federal Court ordered The Star Entertainment Group to pay $260 million for repeated breaches of anti-money laundering laws. The court found the casino failed to adequately manage risks associated with high-risk customers and gambling junkets, despite concerns about possible criminal connections. The judge described the conduct as serious and said the company had put profit ahead of compliance.
Sydney man charged over alleged $123 million money laundering network – 28 October 2026
A 40-year-old Sydney man has been charged over his alleged involvement in an international money laundering network suspected of processing more than $123 million for organised crime syndicates. Investigators allege shell companies were used to move criminal proceeds through cryptocurrency and offshore transfers. Police seized approximately $750,000 in cash, luxury handbags and watches during searches in Strathfield and Burwood.
Sunni Wan’s face used in AI scam after $49k fraud ordeal – 28 October 2026
An Australian scam victim who previously lost $49,000 discovered that footage of her media interview had been stolen and used in advertisements promoting an apparent investment scam. The case highlights the growing use of artificial intelligence, stolen identities and manipulated media to make fraudulent investment promotions appear legitimate. Cybersecurity experts warn that AI is making it easier for criminals to create convincing fake websites, identities and personalised scams
Company director charged with corruption over dealings with East Pilbara Shire – 27 October 2026
A Victorian company director has been charged with eight counts of corruption over alleged payments exceeding $50,000 to a former East Pilbara Shire manager. Police allege the payments were made in exchange for more than $5 million in council contracts awarded to two companies.
Australian regulator tells major audit firms to review practices after scandals – 29 October 2026
ASIC has directed six major audit firms – KPMG, PwC, Deloitte, EY, BDO and Grant Thornton – to develop action plans to address weaknesses in financial reporting and audit quality. Issues included inadequate scrutiny of management assumptions, insufficient audit evidence and failures to properly document independence and ethical compliance. ASIC also revealed it had examined 551 complaints of potential audit misconduct involving the Big Four.
Sales manager allegedly steals $120,000 from Rockingham car dealership – 30 October 2026
A former car dealership sales manager has been charged with 83 offences after allegedly diverting almost $120,000 in customer refunds and vehicle deposits into personal bank accounts. Police allege he used 21 bank accounts, altered contracts and receipts, and created fraudulent documents to conceal the transactions.
ATO agents raid Melbourne dental practice after $36 million withdrawn from superannuation accounts – 30 October 2026
The ATO and AFP have raided a Melbourne dental practice as part of an investigation into an alleged scheme involving fraudulent early access to superannuation. A former health practitioner is accused of providing more than 1,000 false medical reports to help individuals unlawfully withdraw over $36.4 million from their superannuation accounts for dental treatment they were not eligible to receive or that was never provided. The investigation is ongoing.
Finland launches criminal probe into land clearance for Google data centre – 30 October 2026
Finnish police have launched a criminal investigation into Google’s Finnish subsidiary after it allegedly cleared approximately 530 hectares of forest across two sites before completing mandatory environmental impact assessments. Authorities are investigating potential breaches of environmental laws, including inadequate drainage and water management. Construction has been suspended, with the investigation expected to continue into 2027. Google says it is cooperating with authorities.
