News and Analysis
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A forensic investigation into the high-profile cyber-attack on the Australian National University has found it was an ‘extremely sophisticated’. China has been reported as the prime suspect in the attack, with intelligence officials fearing the data stolen could be used to compromise university alumni pursuing careers with the Australian government.
Lynas Corporation has revealed a big increase in the cost of directors insurance coverage after ASIC investigated their Wesfarmers takeover tilt.
Paper explains the legal obligations of a company director and the extent to which a director can be personally liable for the actions of their company.
Computer networks in at least seven major regional hospitals were in lockdown after a widespread ransomware attack shut booking systems, delayed surgeries and revived fears over patient information security.
ASIC has found that a project manager at Darebin Council took cash, gifts and other benefits from a road contractor while awarding the firm more than $16 million in work.
NSW MP Jonathan Yee is set to hand back about $10,000 in donations after they were exposed as fraudulent before an anti-corruption inquiry. He arranged for cheques to be issued with the knowledge they would be reimbursed in cash.
Merchant banker Jenny Hutson is accused of taking $928,000 from a listed childcare company she chaired to buy ANZ bank shares for herself.
Racing identity Bill Vlahos has admitted to defrauding punters of almost $18 million across five years in a betting ring fraud. Gamblers were supplied with ‘bet sheets’ representing the horses upon which bets were placed, but he has admitted putting the money into his personal bank account instead.
The chief executive of major property developer Caydon has claimed his signature was forged as part of an alleged $400 million fraud against a Korean investment house by another developer.
Researchers at Monash University are looking to a range of digital technologies including augmented reality and machine learning to improve forensic ballistic analysis. Using machine learning techniques and CT scans, the researchers plan to create a 3D model of the human anatomy, including entry and exit wounds, to produce accurate trajectory models .
8,000 people were left without paychecks due to the sudden closure of MyPayrollHR, a New York-based payroll software company. The owner, Michael Mann, has reportedly admitted to defrauding banks to receive $US70 million in loans since 2010.
Following the wake of scandals from the Royal Commission into banks. NAB is set to run a proof-of-concept of voice analytics and speech-to-text technology to monitor sales calls in two business areas and make sure they are not using sales tactics banned under financial services laws.
Andrei Tyurin, 36, pleaded guilty to six counts, including computer hacking conspiracy and bank fraud. The operation, between 2014 and 2015, stole data from 83 million JP Morgan Chase customers.
From face scanning to microchipping employees, these are the methods bosses are increasingly using to monitor staff at work
Workplace surveillance is becoming increasingly common, with companies using facial scanning, microchips, listening devices, email scanning and data mining to keep a track of staff for security, logistics and resource purposes.
Crypto-jacking is when cyber criminals use malware to steal computing power from various target devices in order to secretly mine cryptocurrency. This activity leads to stolen resources, a rise in power bills, and diminished productivity among employees.
Sydney is the 15th most surveilled city globally, with 60,000 cameras for 4.85 million people, meaning that there are 12.35 cameras for every 1,000 people.
Thai cabinet minister Thammanat Prompao drug trafficking history resulting in years in an Australian jail, followed by use of other names in illegal activities has been nothing compared to a write up in a Thai news magazine.
Multibillion dollar Korean investment house JB Asset Management alleges that LBA Capital breached its agreement to fund the development of specialist disability accommodation under the NDIS. Instead, the Korean partner claims the money was used for its own benefit and for its subsidiary, as part of large sophisticated fraud scheme.
Farmers and small agribusiness service providers who are not computer savvy are likely to be easy targets for scammers who fake email requests.
Paper explains the privilege against self-incrimination in regulatory investigations, the right to silence and application to external/regulatory investigations.
Expansion of Taxable payments reporting system to investigation and surveillance services – 20 September 2019
Article summarises the new Taxable Payments Reporting obligations applying to businesses providing Road Freight, IT and Security, Investigation and Surveillance services, with the first Taxable Payments Report due on 28th August 2020.
ASIC has appointed provisional liquidators to Merlin Diamonds, due to suspected illegal conduct surrounding millions of dollars of investor money.
It has become more common for Scammers to promote fake investment schemes using images of celebrities. In this case the mining entrepreneur Andrew ‘Twiggy’ Forrest was used to steal $670,000 from a Bunbury woman.
The Royal Commission: why it happened, how it all began, and does New Zealand need one? – 18 September 2019
Article reveals in detail how Adele Ferguson,reporting over several years led to the Royal Commission on Misconduct in the Banking, Superannuation and Financial Services Industry.
Former Kimberley College principal Paul Thomson charged with fraud, along with daughter and son-in-law – 18 September 2019
Principal of a private Logan school (Paul Thomson) and three of his family members, have been charged with fraud offences over the financial management of the school.. It has been alleged $4.6 million of college money was taken and used for items including luxury holidays.
An alleged $10 million international identity theft syndicate, has drained at least 70 Superannuation and share trading accounts.
The Chinese community in Australia is the prime target of two “cruel” and elaborate extortion scams, resulting in more than $1.5m being stolen from victims.
PayPal is concerned about the future of Facebook-backed cryptocurrency Libra which will roll out in 2020. Central banks, governments and regulators question how it would be regulated.
French politician Patrick Balkany who had been under investigation since 2013 has been convicted of tax fraud. The court finding he had deposited millions of euros in a Swiss bank account.
Alleged family day-care fraud more disciplined than outlaw motorcycle gang: police – 12 September 2019
17 people have been charged over their role in operating a fake home family day care business. Police allege the business created false timesheets and rostering, mock children’s play areas and advertised photographs of children who were never in care to fraudulently claim benefits. The syndicate allegedly gained $4 million in 10 months.