Royal commission to hold banking misconduct hearing – 23 January 2018

by admin | Jan 23, 2018 | News & Analysis

An initial public hearing, run by the Royal Commission into Misconduct in the Banking, Financial Services and Superannuation Industry will be held in Melbourne this coming February 12th. The Commission is inviting submissions of incidents of misconduct from any...

Western Union scam victims urged to seek compensation from $US568 million fund – 23 January 2018

by admin | Jan 23, 2018 | News & Analysis

Following the loss of millions of dollars between 2004-2017, Western Union has been ordered to repay up to $568 million (US) to victims who were subjected to fraud and scams whilst transferring funds through the company. Much of the fraud occurred through a failure of...

ANZ, regulator settle on suspected frauds affecting Esanda customers – 18 January 2018

by admin | Jan 18, 2018 | News & Analysis

ANZ has reached a settlement with Australia’s corporate regulator over suspected third party fraud, and has agreed to pay a $5 million fine. The fraud allegedly occurred when car finance brokers submitted loan applications to Esanda on behalf of customers between...

Rio Tinto says SEC fraud case should be dismissed – 17 January 2018

by admin | Jan 17, 2018 | News & Analysis

A lawyer for Rio Tinto has argued that the lawsuit against the mining company for overstating the value of Mozambique coal assets in 2011 should be dismissed, claiming the Securities and Exchange Commission failed to plead that the company intentionally committed the...

Sydney nightspots caught up in Plutus tax scam – 15 January 2018

by admin | Jan 15, 2018 | News & Analysis

Popular nightclubs and restaurants in Sydney have been identified as users of Plutus Payroll, the company at the forefront of one of Australia’s largest tax frauds. Many payments made to the group have not been sufficiently documented to confirm they were for wages,...