Proposed cash ban is not about controlling your money, says Reserve Bank – 13 January 2020

by admin | Jan 13, 2020 | News & Analysis

The Reserve Bank has said the motive for the Federal Government’s $10,000 cash limit bill is to fight the black economy, by stamping out tax evasion, money laundering and other crimes. A Senate inquiry into the proposed law has received thousands of submissions,...

WA uni drops part of lawsuit against academic ‘whistleblower’, after cutting ties with agency he exposed – 13 January 2020

by admin | Jan 13, 2020 | News & Analysis

Murdoch University has dropped a major section of its lawsuit against Professor (Gerd Schroder-Turk) who blew the whistle over questionable international student intake practices. The professor claimed international students recruited via an Indian-owned agency were...

Lamborghini-driving drug accused fights AFP for return of assets – 12 January 2020

by admin | Jan 12, 2020 | News & Analysis

Mr Karagiozis, founded Australian cryptocurrency Auscoin and opened up many Bitcoin ATMs and souvlaki stores across the country. Officers from the AFP allege that Mr Karagiozis and his criminal syndicate used the dark web and Bitcoin accounts for the sourcing, payment...

RBA crushes hopes of Libra launch – 10 January 2020

by admin | Jan 10, 2020 | News & Analysis

The Reserve Bank of Australia will not allow tech giant Facebook to launch its cryptocurrency Libra in Australia until all risks and regulatory requirements have been mitigated. RBA stated that ‘stable coins’ raise significant legal and regulatory risks to...

Former Kleenmaid director found guilty of fraud and insolvent trading after a 59-day trial – 10 January 2020

by admin | Jan 10, 2020 | News & Analysis

Andrew Eric Young was found guilty in the District Court of Queensland on 19 charges arising from the collapse of the national white goods distributor ‘Kleenmaid’. They included fraud, criminal insolvent trading of debts and the illegal transfer of funds to personal...

Cyber threats that use social engineering – 10 January 2020

by admin | Jan 10, 2020 | News & Analysis

Attackers use social engineering through human interaction to exploit trust and manipulate has been called “Remote Online Social Engineering” or ROSE. The effects of ROSE can be anything from crippling malware infections to major financial fraud affecting businesses...