Gumtree scammers tricking victims with fake online banking receipts, police warn – 9 October 2018

by admin | Oct 9, 2018 | News & Analysis

A middle-aged Queensland man with a history in criminal investigation, says falling victim to an online scam is a reminder that anyone can be targeted. He handed over a diagnostic mechanics tool that retails for about $13,000, but did not receive the money for the...

Swiss bank UBS on trial in France over tax fraud claims – 8 October 2018

by admin | Oct 8, 2018 | News & Analysis

The Swiss banking giant UBS goes on trial to face accusations it orchestrated a huge tax fraud scheme for wealthy French clients, with potential fines of billions of euros. The inquiry was opened after a former employee alerted authorities over the bank’s...

Fourth former NAB banker banned over alleged home loan fraud ring – 8 October 2018

by admin | Oct 8, 2018 | News & Analysis

A fourth former NAB employee (Mathew Alwan), has been banned from working in financial services, for his part in an alleged fraud ring that abused the bank’s “introducer” home loan referral program. ASIC is now considering whether to refer a brief...

China inserted surveillance microchip in servers used by Amazon, Apple: report – 5 October 2018

by admin | Oct 5, 2018 | News & Analysis

China secretly inserted surveillance microchips into servers used by major technology companies, including Apple and Amazon.com. US officials long have worried about the potential for altered microchips or other components to be secretly inserted into products and...

Cryptocurrency exchanges must now fully comply with the anti-money laundering and counter-terrorism laws in Australia – 5 October 2018

by admin | Oct 5, 2018 | News & Analysis

Those operating a cryptocurrency/digital currency exchange (DCE) which exchanges fiat (Australian or foreign currency) for digital currency and/or vice versa, have obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). A...