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Investigation & Fraud News – Week ending 18 July 2025
Fraud has evolved – has your organisation – 11 July 2025
At this year’s 36th ACFE Global Fraud Conference, one message was clear: fraud risk is accelerating, and many organisations are not adapting fast enough. The modern fraud landscape is increasingly shaped by digital behaviour. Offenders are exploiting remote and hybrid work environments, leveraging AI to create synthetic identities and deepfakes, and taking advantage of employee behaviour patterns that don’t show up in traditional monitoring systems. In this environment, simply relying on transactional analytics is not enough. Detection must also consider context and behavioural cues.
Fraud case ends broker’s career in permanent ASIC ban – 12 July 2025
The Australian Securities and Investments Commission (ASIC) has permanently banned Jason Damien Prasad, a former insurance broker operating in New South Wales, after he was convicted of fraud-related offences. The regulatory action, which took effect on July 3, follows Prasad’s conviction for dishonestly obtaining a financial advantage by deception.
Liquidator probes transfer of Queensland government funds to bank account of Cryptoloc Holdings founder Jamie Wilson – 14 July 2025
Liquidators are probing the transfer of $1.55 million from cybersecurity company Cryptoloc to the private account of its founder, Jamie Wilson. The company was wound down late last year, months after winning a lucrative $15 million Queensland government cybersecurity contract. The liquidators’ investigation is continuing and Customer Services and Open Data Minister Steven Minnikin says an audit is underway into the cybersecurity tender process.
https://www.abc.net.au/news/2025-07-14/qld-liquidators-probe-cryptoloc-cybersecurity/105509012
Pensioner takes NAB to Supreme Court over $1,338 in fraudulent transactions – 14 July 2025
Ian Williams has spent an enormous amount of time studying Australian banks’ obligations while representing himself in court. Williams said the reason he was suing for the vast amount of $380 million was because he believed NAB demonstrated “a systemic abuse of power”, knowledge of his vulnerability, “and deliberate disregard for fair dealing”. Williams claimed the bank:
• Failed to secure his banking credentials and transaction data.
• Failed to use its fraud detection protocols, which he said would have flagged the two transactions as fraudulent.
• Breached its duty to “protect customers from unauthorised transactions”.
• Failed to comply with the ASIC ePayments Code by not conducting a fair and transparent investigation or reasons for its decision to not pay Williams back.
The matter has progressed to the Supreme Court.
Victims of collapsed First Guardian, Shield may lose more than $700m – 16 July 2025
The regulator is investigating if First Guardian and Shield had disclosed the risks to their investors properly, many of whom were signed up via lead generators and high-pressure sales calls. While Shield promised diversified assets and better returns than industry super funds, ASIC believes it and trustee Keystone Asset Management actually held risky, illiquid assets. Compensation for thousands of consumers could reach $300 million, despite almost $1 billion in superannuation being at risk between the two entities.
Cybersecurity strategist explains ‘ghost tapping’ credit card scam – 16 July 2025
Cybersecurity strategist Eward Driehuis explains how ‘ghost tapping’ credit card fraud works and what can be done to avoid falling victim to the scam. The fraud involves making a digital copy of a stolen credit card on a criminal phone using an Apple or Google wallet, before laundering the victim’s money by purchasing and re-selling gift card.
https://www.youtube.com/watch?v=QWWYMyBjf9Y
EPA secures enforceable undertaking with concrete company following investigation – 16 July 2025
The NSW Environment Protection Authority (EPA) has agreed to a $100,000 Enforceable Undertaking (EU) with Reinforced Concrete Pipes Australia (NSW) Pty Ltd (RCPA), following an investigation into unlicensed concrete works at its Somersby facility. The EPA began investigating RCPA when the company applied for an Environment Protection Licence in December 2022 and discovered it had produced more than 30,000 tonnes of steel-reinforced concrete pipes annually between 2018 and 2022, without a licence. The scale and duration of the unlicensed activity raised serious concerns as RCPA operated for several years without formal monitoring of dust, water pollution or noise.
I transferred $1.6 million into a scammer’s bank account. I don’t blame myself for it – 16 July 2025
Harriet Spring thought she was doing all the right things to set up her and her four sisters’ financial future. One phone call changed the fate of her family’s $1.6 million inheritance. The term deposit account she transferred the $1.6 million into was ‘mule’ account used by criminals to move money around. She was told that only $232 was all that was left. The police arrested the criminals who ran the mule accounts, but that won’t bring the money back. Harriet believes it was her personal failure but a system failure that is just getting worse as AI gets better.
Private ATMs in tobacco shops face being cut off from payment network EFTEX following ABC investigation – 17 July 2025
Payment processing company EFTEX will stop facilitating transactions from ATMs situated inside tobacco stores and other “high-risk” businesses. It comes after an ABC investigation revealed major private ATM suppliers were targeting the illegal tobacco industry. Financial crime expert Neil Browne says it is a “step in the right direction,” and he would like to see more payment providers follow suit.
https://www.abc.net.au/news/2025-07-17/tobacconist-atms-cut-off-payment-networks-eftex/105539942
Crypto ATM providers to meet minimum standards – 17 July 2025
AUSTRAC is placing conditions on cryptocurrency ATM providers to help reduce their exposure to money laundering, terrorism financing and other serious financial crimes.
CEO Brendan Thomas says a cryptocurrency taskforce found some providers have not been complying with anti-money laundering and counter-terrorism financing (AML/CTF) laws.
“Some of them are not taking the right steps to understand their customers and risks, or they’re not reporting to us”.
And with around 150,000 transactions every year moving close to $275 million, this is a serious concern.”
https://www.austrac.gov.au/crypto-atm-providers-meet-minimum-standards
Samsung boss cleared of fraud by South Korea’s top court – 17 July 2025
Samsung boss Lee Jae-yong has been cleared by South Korea’s top court of fraud charges, concluding a years-long legal battle over his role in a 2015 merger deal. Lee, the grandson of Samsung’s founder and the de facto head of the company since 2014, had been accused of using stock and accounting fraud to try to gain control of the firm.
In its final verdict, the Supreme Court in Seoul upheld a not guilty verdict, after Lee was acquitted of all charges in two earlier trials. The case drew widespread scrutiny of the technology giant, as the country grapples with corporate corruption scandals involving its powerful family-run conglomerates known as chaebols.
https://www.bbc.com/news/articles/ckgj04nw19zo
Big banks warn businesses of Kimberley scam cluster – 17 July 2025
Two of Australia’s major banks are warning regional customers that sophisticated phone scammers are impersonating bank employees. The East Kimberley Chamber of Commerce and Industry says it has received reports of a “cluster” of fake calls targeting businesses in Kununurra, in Western Australia’s north. NAB and Westpac banks are urging people to report any suspicious behaviour.
https://www.abc.net.au/news/2025-07-17/bank-scammers-target-kimberley-businesses/105529024
Investigation & Fraud News – Week ending 11 July 2025
ADF whistleblower breaks 15-year silence on sexual abuse cover-up – 7 July 2025
Women who speak up about sexual abuse and harassment should be supported, not silenced. Unfortunately, Australian laws are failing people who blow the whistle. On 60 Minutes and 9Fairfax, multiple women spoke about abuse in the Australian Defence Force (ADF), including Julia Delaforce who shared that in 2010 she was sexually harassed at knifepoint in a NSW military base by a drunken, machete-wielding senior male corporal. She was then instructed by her superiors to drive her assailant home. The Human Rights Law Centre’s Whistleblower Project is Australia’s first dedicated legal service to help people come forward and speak out when they witness or experience wrongdoing and harm. They also advocate for stronger laws and a National Whistleblower Protection Authority.
https://www.hrlc.org.au/updates/adf-whistleblower-breaks-15-year-silence-on-sexual-abuse-cover-up/
Media monitoring firm iSentia accused of tax evasion by Thai police – 8 July 2025
Thai police arrested the former Asia chief executive of iSentia, David Liu, in June over suspected tax evasion of up to 5.2 million baht ($246,000). He denied wrongdoing, the Bangkok Post reported. iSentia says the proceedings are “without foundation” and it is confident they will be dismissed. This was two months after the major media monitoring provider signed a lucrative contract with the Australian Taxation Office.
Why that ‘local’ store closing down sale might be a total scam – 8 July 2025
Australians are increasingly falling victim to sophisticated online shopping scams known as “ghost stores”: fake websites designed to look like legitimate retailers, often selling high-end fashion at attractive prices. These sites are powered by AI, built to mimic genuine e-commerce platforms with polished branding, glowing fake reviews, and seamless checkout experiences. The consumer watchdog estimates it has received at least 360 reports about 60 online retailers since the start of 2025.
A Whistleblower Protection Authority for Australia – 9 July 2025
Polling conducted by The Australia Institute in collaboration with the Human Rights Law Centre and Whistleblower Justice Fund shows that 84% of Australians support the introduction of a Whistleblower Protection Authority, and only 5% oppose. As recognised by whistleblowing experts, the Whistleblower Protection Authority Bill 2025 (No.2) would represent a step forward for whistleblower protections, and the integrity arm of government more broadly.
https://australiainstitute.org.au/report/a-whistleblower-protection-authority-for-australia/
German arrested on Koh Phangan for investment fraud targeting Australians – 9 July 2025
A 54-year-old German has been arrested on Koh Phangan for allegedly orchestrating a fraudulent investment scheme targeting investors in Australia. Police found scripted dialogue used to dupe investors in Australia into making fake stock investments and detailed records of victims. Muang police station in Pathum Thani have undertaken the legal processing on the fraud charges. Surat Thani police would bring additional charges against him under the Foreign Business Act, Pol.
Police seeking ‘piranhas’ involved in $3 million blessing scams – 9 July 2025
Seven “predators” are believed to have fled to China after robbing huge amounts of money” and jewellery in a so-called spiritual blessings scam in NSW. Spiritual blessing scams are where victims are coerced into placing cash and jewellery in a bag, and told the bag needs to be blessed by a spiritual healer before it is returned empty. Two people have been charged in Australia and a third is in custody in New Zealand, the force added, after more than 80 instances of the scam in Sydney, with more than $3 million in cash and valuables stolen.
https://www.sbs.com.au/news/article/police-seeking-piranhas-involved-in-3m-blessing-scams/zfy6xdh50
Former radio host sues over 2012 royal prank – 9 July 2025
Southern Cross Austereo (SCA) is facing legal action from a former radio host who was involved in a controversial royal prank call back in 2012. Michael Christian is suing SCA under the Fair Work Act, the Corporations Act as a whistleblower, and under Common Law for breach of contract. Christian is now suing the network, accusing SCA of not immediately taking public accountability for the incident and allegedly leaving him and Mel Greig (the other radio host) to be the “scapegoats”, according to a statement from his lawyers. The former host claims he was assured by SCA that his career would be protected and restored if he remained silent. Instead, he alleges, his former employer was “gradually marginalising” him within the business over the past 13 years.
CBA worker fired over alleged fraudulent transactions disputes sacking – 9 July 2025
A Commonwealth Bank employee has sought to dispute the termination of his employment, claiming that the major bank unfairly dismissed him. The worker alleges that he was fired after raising two disputes pertaining to his personal bank account, which is assigned with CBA. According to the worker, CBA accused him of making “false disputes in an attempt to gain financial benefit”. He claimed that he made these disputes purely as a customer of the bank – submitted that it had nothing to do with his ongoing employment.
Parents of Klemzig early learning centre speak out amid investigation – 9 July 2025
Some parents say they have no concerns with an Adelaide early learning site at the centre of an investigation while others are considering removing their children.
The Little Shining Stars Early Learning Centre said it had amended some of its policies and procedures.
The Education Standards Board has also listed a handful of childcare centres and a school for failing to comply with different provisions of the national regulations.
Junior doctor charged after camera found in staff bathroom at Melbourne hospital – 10 July 2025
Victorian detectives have charged a trainee surgeon with stalking after his colleagues found a camera allegedly recording them in a staff toilet at a major Melbourne hospital. The junior doctor, who is employed at The Austin Hospital, is also charged with using an optical surveillance device, after investigators raided his home in Heidelberg West.
Defence accuses ex-detective of bungled investigation into Gareth Ward assault allegations – 10 July 2025
The former detective who led a sexual assault investigation into NSW MP Gareth Ward has admitted to breaching a court order by arriving hours late to give evidence, prompting sharp criticism from the defence. He was also grilled over investigative delays and accused by the defence of failing to pursue key lines of inquiry. The former officer’s cross-examination is expected to continue.
https://www.abc.net.au/news/2025-07-10/gareth-ward-trial-detective-cross-examination/105518436
TikTok investigated by European regulators over users’ personal data being stored in China – 10 July 2025
The European data regulator has opened another investigation into social media platform TikTok. The Data Protection Commission said the video sharing platform admitted to holding “limited” personal data of European users on servers in China. TikTok told AFP in May that it had notified the regulator of an issue regarding personal data transfers.
Port Douglas front and centre in huge national super fund investigation – 10 July 2025
Port Douglas is at the heart of a significant national investigation into the Shield Master Fund, a superannuation investment scheme that has allegedly misused hundreds of millions of dollars. ASIC is leading one of its largest inquiries, involving approximately 40 specialist investigators, into the fund’s operations. The investigation centers on the planned $300 million Fairmont Resort in Port Douglas, which, despite never receiving approval from the Douglas Shire Council and remaining in the pre-development stage, reportedly received over $100 million in loans from the Shield Master Fund before its collapse in 2024.
Fraud, friction, and the future: Prioritising trust in a high-stakes market – 11 July 2025
Because of rising regulatory scrutiny, growing public vigilance regarding digital threats, and fast-evolving technologies, finding ways to establish consumer trust has become a key topic in Australia’s boardroom. According to our 2025 Safety in numbers report that outlines trust and safety investment trends, Australian business leaders are “walking the talk”, with 52% saying they intend to significantly increase their investment in fraud detection over the next 12 months. Paper outlines the new initiatives or corporates are undertaking.
Alleged sex offender Joshua Dale Brown filled in as cook at childcare centre just days before police charges – 11 July 2025
A Melbourne childcare worker filled in as a cook and prepared meals for children just days before police charged him with contaminating food with his bodily fluids, along with dozens of sex offences. Mr Brown is now facing more than 70 charges.
Investigation & Fraud News – Week ending 4 July 2025
Financial consultant ordered to live with parents before trial over sexual assaults, bad cheques – 27 June 2025
Mark Steven Sarian pleaded not guilty to 49 charges, including 38 counts of sexual intercourse without consent. He is accused of paying sex workers with dishonoured cheques and failed bank transfers. Mr Sarian was handed strict bail conditions including to not leave his parents’ home unless for reasons such as work, medical or legal appointments.
Police sound alarm after scams using cryptocurrency ATMs send Australians to the wall – 29 June 2025
Police are sounding the alarm across the country, including in the ACT, and warning of scams involving the use of cryptocurrency ATMs. Over 2024, the Australian Signals Directorate’s ReportCyber received 150 reports about cryptocurrency ATM-related scams, with losses exceeding $3 million.
ASIC’s banning actions against advisers in FY25 – 30 June 2025
With a busy financial year, ASIC took action against numerous individuals during the period, including permanent banning’s and enforcement action against dishonest conduct. Article summaries the ASIC banning activity during the financial year.
Fair Work non-compliance rife among farm labour providers in Adelaide Hills and Riverland – 30 June 2025
A Fair Work Ombudsman report has found “several” Adelaide Hills labour hire providers have not paid workers’ their superannuation. The report also found 92 per cent of labour hire providers audited in South Australia were non-compliant.
Agencies involved in a task force investigating illegal “phoenix” businesses are continuing their investigations.
Man facing trial for hundreds of fraud charges allegedly committed against quadriplegic friend – 1 July 2025
A trial has heard a man with quadriplegia was devastated when he realised his bank account had nothing in it, after an alleged fraud by a friend. Jonathan Maher is facing hundreds of charges after he allegedly took the money from the man’s account — some as cash and some in purchases. Mr Maher’s trial is continuing in the ACT Supreme Court.
Creating a federal whistleblower authorit for public interest disclosures – 1 July 2025
Public interest disclosure needs more than principles — it needs protection. The recently released report from Transparency International Australia, the Human Rights Law Centre and Griffith University, ‘A Fair Go for Speaking Up: Design Principles for Australia’s Federal Whistleblower Authority’, is a sore reminder about the critical absence of an agency able to aid those interested in making public interest disclosures.
Fresh DNA’ sparks investigation into 1987 murder of Bundaberg taxi driver Bryan Hodgkinson – 2 July 2025
Queensland police are offering a $500,000 reward for information into the cold case murder of Bundaberg taxi driver Bryan Hodgkinson, with fresh DNA evidence leading to a new line of inquiry. Detective Senior Sergeant Tara Kentwell said Hodgkinson’s murder can still be solved, “irrespective of the passage of time” due to ‘new and enhanced forensic testing of exhibits seized’.
Treasury prepares to crack down on audit firms, with or without ASIC – 2 July 2025
Treasury is considering handing the corporate regulator the power to punish major audit and consulting firms for the first time, as part of a crackdown on the sector proposed after PwC was caught circulating confidential government tax details to promote its services.
UK Crown Prosecution Service considers further charges against killer nurse Lucy Letby – 3 July 2025
Prosecutors are considering bringing further charges against nurse Lucy Letby over allegations relating to deaths and other incidents at hospitals where she worked. Letby, 35, is serving life in jail after being found guilty of murdering seven newborns and attempting to kill eight more at a neonatal unit in a hospital in nothern England. Police said they were investigating whether she had committed further crimes, and the Crown Prosecution Service said it was now examining the evidence.
Australian banks roll out name-matching technology to combat scams – 3 July 2025
To curb rising scam threats, Australian banks have begun the rollout of the industry-wide security feature Confirmation of Payee (CoP), a name-matching solution designed to reduce fraud and mistaken payments. The initiative, developed by Australian Payments Plus (AP+), forms part of the Australian Banking Association’s (ABA) Scam-Safe Accord. Under the system, customers entering a BSB and account number during a payment transaction will be shown whether the name they have entered matches the one held by the receiving bank. This added verification step is designed to flag inconsistencies before funds are transferred.
First Guardian collapse leaves thousands at risk of losing super as ASIC freezes director assets – 4 July 2025
A Melbourne man, was contacted by a financial advisory company called Venture Egg, which convinced him to roll his super savings from ANZ into a super fund called AusPrac. He then found out his super money was being channelled into “a cash hub” controlled by the directors of a managed investment scheme, called First Guardian Master Fund. He is now among 6,000 Australians who invested $590 million with First Guardian, which collapsed earlier this year, and which is currently under investigation by the corporate watchdog, the Australian Securities and Investments Commission (ASIC).
Qantas executives slow to be seen after data breach affecting up to 6 million customers – 4 July 2025
More than 6 million Qantas customers received a personalised email, signed by the chief executive, informing them that cyber criminals had scaled the company’s defences. The first email outlined fears that the airline’s database containing personal information had been hacked and, your name might be on it. For those receiving the follow-up email, it was confirmation their name, email, phone number and frequent flyer number had also been unlawfully accessed.
https://www.abc.net.au/news/2025-07-03/naus_qantascybernr_0307/105491200
Investigation & Fraud News – Week ending 27 June 2025
Ballarat Grammar launches third investigation into boys’ boarding houses – 23 June 2025
Ballarat Grammer (BGS) has launched its third investigation in five months into allegations of “serious misconduct” in its boys’ boarding houses. In a letter to parents today, the school said over the past fortnight new information had “come to light”, and it would now begin an investigation. BGS said through investigations it had become clear that a “broader cultural shift was also needed”.
Aussie loses $320,000 to chilling threat and extortion scam – 23 June 2025
A 30-year-old was initially told her credit card had been used in an attempt to buy drugs online and she would be transferred to the police to make a report. The scammers, posing as Chinese police, then accused her of being part of a criminal syndicate responsible for a large scale money laundering operation. To avoid jail, she had to agree to be under 24/7 surveillance and not tell anyone about her situation. She has been left traumatised after being kept under surveillance for two months and ultimately losing her lifesavings.
Year in review: international investigations in Australia – 23 June 2025
Article summarises key legislative changes over the past year in relation to corporate misconduct.
https://www.lexology.com/library/detail.aspx?g=9edce233-0371-4135-9bc8-e7ec655bdd16
ASIC cautions licensees on share fraud – 24 June 2025
The Australian Securities and Investments Commission (ASIC) has issued updated guidance for Australian financial services (AFS) licensees following an increase in reports of stolen shares due to identity theft. The new guidance, Information Sheet 237 Protecting against share sale fraud (INFO 237), outlines better practices for licensee prevention and detection of share sale fraud.
https://smsmagazine.com.au/news/2025/06/24/asic-cautions-licensees-on-share-fraud/
Workplace surveillance could be changing – what do employers need to know? – 24 June 2025
Workplace surveillance is becoming more sophisticated and widespread, but the laws that govern it haven’t kept pace. From AI monitoring tools to wearable trackers and biometrics, new technologies are being deployed in workplaces across many industries, yet there is little regulation on how and when employers can use them.
Police’s new weapon to crack open cold cases – 24 June 2025
NSW Police are using ground breaking technology to solve crimes. More than 145,000 unsolved cases, from break and enters, to some of the state’s longest standing, most baffling unsolved murders, could soon be solved now that police officers can match prints from the phalange area of the hand – the part between the tip and the palm.
Fraud victims among top crypto ATM users, Australian regulator say – 25 June 2025
AUSTRAC has identified 90 top crypto ATM users in Australia as scam victims, money mules, or suspects in a nationwide crackdown on crypto-related crime. Most flagged transactions involved victims, including a woman in her 70s who lost over A$430,000. Regulatory scrutiny of crypto ATMs and exchanges is intensifying.
Sophisticated scams rise in the dark side of AI’s explosion – 25 June 2025
The Australian Signals Directorate, the government agency overseeing the nation’s cybersecurity, warns that AI presents risks such as malicious actors using AI tools to expand their activities, including using generative AI to produce low-effort, high-quality material for phishing attacks. Automated tools such as “Fraud GPT” can scrape sites where software developers store, manage and collaborate on computer code for weaknesses. They can also automatically generate small payloads of malware for use in a cyberattack.
Council refers fraud investigation to police – 25 June 2025
An investigation into potential fraud at a council has been referred to the police. In April, Newcastle City Council began investigating possible fraudulent activity within the council’s transport department. The local authority confirmed that the “financial irregularities” are understood to relate to potential over claiming involving an unconfirmed number of employees.
https://au.news.yahoo.com/council-refers-fraud-investigation-police-114735920.html
Privacy resilience: Why compliance alone won’t cut it in 2025 – 26 June 2025
Privacy is everyone’s Business – it is not just the job of privacy professionals or IT departments. It’s a shared responsibility across all sectors of society. This means privacy can no longer be viewed as an isolated function. It must be embedded into every part of the organisation, from boardroom strategy to day-to-day decision-making. Paper explains that it requires aligned governance, risk awareness, training and, most importantly, culture.
https://securitybrief.com.au/story/privacy-resilience-why-compliance-alone-won-t-cut-it-in-2025
Corruption and Crime Commission to probe how Floreat gunman Mark Bombara legally owned firearms – 25 June 2025
WA’s corruption watchdog is investigating police failings that allowed Mark Bombara to legally own firearms used in a double murder-suicide. The agency claims Bombara’s collector’s handgun licence, renewed in 2009, should not have been approved, and police missed opportunities to revoke it.
New firearm legislation is being introduced in WA to prevent similar cases, tightening rules around firearm ownership and licence eligibility.
Convicted drug dealer had same private ATMs as used in illegal tobacco shops – 27 June 2025
Peter Wellman James was sentenced to 12 years in prison in 2022 for supplying a commercial quantity of cannabis. Despite having a drug conviction, James had been able to own and operate a business called atm2go Darwin using private ATMs. The machines provided not just a cover for cash possession, but offered an opportunity for money laundering, with evidence given in court that cash from the drug dealing was to be loaded into the ATMs. Customers can unwittingly withdraw that dirty cash from the ATM and the cash that started out as proceeds of crime, now appears as legitimate funds in the ATM owner’s bank account.
https://www.abc.net.au/news/2025-06-27/darwin-drug-dealer-atm-illegal-tobacco/105459052
