The following are articles relevant to the Professional Investigator.   Click on the title to make a comment or join the conversation.

ERS paused as AFP investigates fraud – 8 May 2020

The ATO has paused requests for early release being sent to super funds, as the AFP investigates identity theft.  The AFP they are investigating one incident that might involve over 100 taxpayers

https://www.financialstandard.com.au/news/ers-paused-as-afp-investigates-fraud-160118821

https://www.theguardian.com/australia-news/2020/may/08/early-access-to-superannuation-paused-as-police-freeze-120000-in-allegedly-stolen-funds

https://www.smh.com.au/politics/federal/labor-threatens-to-pull-ato-in-front-of-committee-for-second-grilling-over-super-fraud-20200509-p54rcp.html

Harsher Penalties Required For Privacy Breaches, Says Cambridge Analytica Whistleblower – 7 May 2020

Australia’s privacy watchdog has alleged that Facebook failed to protect more than 300,000 Australian users’ data that was collected by Cambridge. Each potential breach could attract a fine up to $1,700,000, which could total $529 billion. This fine is quite large compared with other data breach fines but greater regulations are required.

https://which-50.com/harsher-penalties-required-for-privacy-breaches-say-cambridge-analytica-whistleblower/

https://au.news.yahoo.com/brittany-kaiser-cambridge-analytica-whistleblower-future-privacy-210059078.html

Deep dive: How FIs are confronting Data lag, Inadequacies In the Face of Sophisticated Fraudsters. – 6 May 2020

Financial institutions (FIs) and businesses saw 30 distinct fraud attacks every hour in 2019. Protecting Financial Institution platforms from fraud, is growing more difficult as ‘open banking’ systems are implemented.

https://www.pymnts.com/fraud-prevention/2020/deep-dive-bank-data-lag-security-artificial-intelligence-machine-learning-fraudsters/

AFP investigates early-access super fraud – 6 May 2020

The Australian Federal Police are investigating a “small” number of fraudulent applications to the government’s early superannuation access scheme. They are reviewing unregistered users of MyGov and unauthorised access to personal information.

https://www.afr.com/politics/afp-investigates-early-access-super-fraud-20200506-p54qjg

https://thenewdaily.com.au/finance/superannuation/2020/05/07/early-super-access-fraud/