Client drags advice firm, advisers to court – 20 May 2020

by admin | May 20, 2020 | News & Analysis

Danusia Giam is seeking compensation from Melinda and Robert Patterson and three related companies. She claims they took control of her bank accounts and fraudulently misappropriated about $1.4 million, and caused her about $1.3 million in losses from certain property...

Advisers involved in ERS scams: ASIC – 20 May 2020

by admin | May 20, 2020 | News & Analysis

Jane Eccleston, an ASIC superannuation Senior Executive Leader has written an article saying financial advisers are part of the problem in scams targeting people’s super amid COVID-19....

Australian banks hold up a mirror to fraudsters – 19 May 2020

by admin | May 19, 2020 | News & Analysis

Banks are fighting back against financial scammers by adding deceptive technologies to identify insiders that may be helping external attackers....

Hero Sushi has copped a record $891,000 fine for wage theft after workers were paid as little as $12 an hour – 19 May 2020

by admin | May 19, 2020 | News & Analysis

Three ‘Hero Susi’ franchises have been found underpaying 91 staff by a little over $700,000. Documents had been falsified to try to conceal the wrongdoing....

ASIC’s massive Storm Financial bill revealed – 19 May 2020

by admin | May 19, 2020 | Uncategorised

The corporate regulator’s pursuit of Storm Financial, a poster-child of Australian investment disasters in the global financial crisis, cost taxpayers $56 million, expenditure documents reveal....