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Investigation & Fraud News – Week ending 14 February 2025
AustralianSuper under major scrutiny as $4.1 trillion industry faces big changes – 6 February 2025
Australia’s largest superannuation fund, AustralianSuper, is being investigated by the corporate regulator for allegedly taking too long to pay out death benefits. AustralianSuper announced in December that it would repay $4.2 million to deceased customer’s loved ones as compensation for taking too long to process their death benefit claims. About 7,000 people were impacted, with claims dating back to May 2020 not resolved within the fund’s four-month target.
ASIC permanently bans former financial adviser Lachlan John King – 7 February 2025
ASIC has made two orders permanently banning Queensland based financial adviser Lachlan John King following his conviction of fraud. The conviction related to Mr King misappropriating a total of $1,797,493.66 from eight clients while working as a financial planner and being entrusted with the financial management of multiple clients, including family members.
Mastercard To Get Rid Of Credit Card Numbers By 2030. We Could Be Heading Towards The End Of Cards – 9 February 2025
Mastercard Inc has announced plans to remove the 16-digit number from their credit and debit cards by 2030 in a move designed to stamp out identity theft and fraudulent use of cards. The numbers currently used to identify cards will be replaced with tokenisation and biometric authentication. Biometric options enabling payments to be made with a smile or wave of the hand. Tokenisation converts the 16-digit card number into a different number — or token — stored on your device, so card information is never shared when you tap your card or phone or make payments online.
Crossbenchers introduce whistleblower protection bill – 11 February 2025
A new bill to establish a whistleblower protection body has been introduced following legal action against whistleblowers such as PwC whistleblower Anthony Watson and ATO whistleblower Richard Boyle. Under the new bill, a whistleblower protection authority will be established to oversee and enforce whistleblower protections, facilitate whistleblower disclosures, and safeguard whistleblowers from inside government or businesses that expose corruption and wrongdoing.
https://www.accountingtimes.com.au/profession/crossbenchers-introduce-whistleblower-protection-bill
HR uses of AI may be classified “high-risk” in Australia – 12 February 2025
A federal inquiry has asked the government to classify HR systems that use AI technology “high-risk” and require “meaningful consultation and transparency” with staff around any use of workplace surveillance tech. Excessive monitoring and surveillance technologies can facilitate bullying, harassment, discrimination, and other inappropriate conduct in the workplace. The inquiry is pushing for substantial extra workplace and worker protections around how and where AI and automated decision-making (ADM) technology can be used.
The fake qualifications and financial fraud of Australia’s shadowy private college sector – 12 February 2025
Australian Skills Quality Authority (ASQA) stated, as of December 31, it was handling 174 serious matters including allegations of cash-for-qualifications schemes, fraud, fake diplomas, and fabricated assessments. These cases involve 138 training providers — and 103 of them cater to international students. The scale of misconduct is staggering: 68 per cent of these serious matters involve fraud, from visa scams and funding rorts to sham processes that falsely legitimize unearned qualifications.
‘Dark money’: Warning on corruption – 12 February 2025
Australia has climbed its way back into the top 10 most transparent countries in a global ranking for the first time since 2016 despite claims of “Dark Money”. Transparency International’s annual Corruption Perceptions Index gave Australia a score of 77/100, putting it above its closest allies the US and the UK. The global corruption monitor pointed to a suite of Labor reforms in 2024, including new foreign bribery and anti-money laundering laws and the Administrative Review Tribunal.
https://au.news.yahoo.com/dark-money-warning-corruption-234217118.html
New AI tool to aid forensic investigations – 12 February 2025
Researchers from The University of Western Australia and CSIRO have developed an advanced AI tool that could help forensic investigators estimate biological sex from human skulls. The research, published in Nature Scientific Reports, has the potential to support forensic investigators during natural disasters and criminal analyses by refining techniques that contribute to accurate identification of unknown individuals.
https://www.uwa.edu.au/news/article/2025/february/new-ai-tool-to-aid-forensic-investigations
Australians lost approximately $1.6 billion to bank card fraud over the past year, with millennials the most targeted age group: research – 12 February 2025
Millions of Australians have been the victim of bank card fraud over the past year, new research has revealed – with millennials the “most targeted” by scammers. A recent survey by comparison site Finder has revealed 10 per cent of Aussies, equivalent to about two million people, were the victim of card fraud in the past year. The average victim lost $781 to the type of fraud, which when extrapolated equals roughly $1.6 billion across the country.
‘Disgusted’: Bank returns money to scammers – 12 February 2025
Kim Sawyer, an Australian man whose family had their life savings ($2.5million) stolen has been left “disgusted” that a bank recovered some of the money — yet the funds were later released back to the scammer. He has now revealed that simple technology such as Account name matching, is a basic anti-scam measure that has blocked many fraudulent transactions in other countries and despite a $100 million pledge for Australian banks to roll out the technology, it still isn’t in place.
Fraudster resurfaces as part of legal dispute over surge pricing patents – 13 February 2025
An Australian scammer has emerged as a key player in a legal fight over surge pricing patents that are potentially worth over $20 billion. The patents were originally developed by an Australian company, but are now in the hands of a US-based company investors say has connections to veteran fraudster Brayden Craig. The fate of the patents, which cover a method of surge pricing used by companies like Uber, is set to be decided in courts in Australia and the US.
https://www.abc.net.au/news/2025-02-13/fraudster-resurfaces-in-surge-pricing-battle-allotz/104919438
DeepSeek faces bans amid security & data privacy woes – 13 February 2025
DeepSeek, a rapidly emerging player in the artificial intelligence (AI) sector, is facing mounting scrutiny over its security practices and data management policies. These include hardcoded encryption keys, weak cryptographic algorithms, and SQL injection risks, which potentially expose user data to exploitation.
https://itbrief.com.au/story/deepseek-faces-bans-amid-security-data-privacy-woes
Game-changing anti-scam laws to protect consumers – 13 February 2025
‘Australians will be better protected from online, banking and telecommunications scams after new laws passed parliament. Businesses could be fined up to $50 million if they do not maintain strong scams defences and victims will have clearer pathways to compensation. The laws also establish a scams prevention framework that will subject banks, telecommunications companies and social media organisations to sector-specific rules on protecting Australian consumers.
https://www.northweststar.com.au/story/8891733/game-changing-anti-scam-laws-to-protect-consumers/
Investigation & Fraud News – Week ending 7 February 2025
Corruption probe leads to sacking of BHP contractors – 3 February 2025
BHP has allegedly sacked more than two dozen contractors as part of a corruption investigation into its coal operations in Queensland. According to The Australian, 26 contractors – who were all hired to work at the Saraji mine in the Bowen Basin – have been axed after the mining giant uncovered non-existent work or jobs where the extent of the work was greatly exaggerated. Some of the roles are understood to have been part time or had yet to commence.
https://procurementandsupply.com/corruption-probe-leads-to-sacking-of-bhp-contractors/
Scam alert: ASIC warns consumers about investment bond scam impersonating Bunnings – 3 February 2025
Scammers are impersonating Bunnings Warehouse by offering fake sustainability investment bonds.
The scam offers higher than market returns and claims that investments are protected by the government. It contains links to Bunnings’ genuine website, but Bunnings does not offer bonds or any other investment products.
Weak scam policies placing super members at risk, warns ASIC – 3 February 2025
An ASIC review found that superannuation trustees’ anti-scam practices were insufficient, according to an open letter signed by ASIC Commissioner Simone Constant. Out of the 15 superannuation trustees included in the review, none had an organisation-wide scams policy to protect their customers.
Criticism over inadequate actions to compensate victims in touted Scams Prevention Framework – 4 February 2025
The Albanese government’s new Bill to help victims of scams has been criticised for not doing enough to help people get their money back. Banks, telcos and social media platforms won’t be forced to automatically compensate scam victims, as part of the federal government’s Scams Prevention Framework, aimed at protecting Australians from financial crime.
Coinbase users lose $65M to scams, ZachXBT reports – 4 February 2025
Onchain investigator known as ZachXBT reported that users of the cryptocurrency exchange Coinbase (NASDAQ:COIN) have lost over $65 million due to social engineering scams between December 2024 and January 2025. He revealed how scammers employed stolen personal data from private databases to execute their schemes.
Fraud Section picks monitors for Australian shipbuilder – 5 February 2025
The US Department of Justice has chosen two partners at a risk and compliance consultancy to serve as monitors for Australian shipbuilder Austal, which pleaded guilty in 2024 to misleading investors.
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Bank sues customer who lost $2.6m to scammers – 5 February 2025
Sylvia Chou lost $2.6 million to scammers of a sophisticated currency exchange trading scheme. They cleaned out her personal savings then got her to borrow money from friends and family and refinance her properties. NAB is now suing her for $1.4 million plus interest because of a discrepancy when she refinanced her properties. Chou is lending her support to news.com.au’s campaign People Before Profit, calling on the federal government to make it mandatory for banks to compensate scam victims – just like in the UK.
Australian victims of online dating scams lose almost $12k on average – 5 February 2025
New research has revealed that scammers are taking advantage of Australians looking for love via online dating apps, with 40 per cent of Australian users reporting being targeted by some form of dating scam. Catfishing, another form of false identity scam, accounts for 29 per cent of dating scams, while fake dating sites are responsible for another 26 per cent.
Court hears youth justice officer risked jail time by secretly recording murder-accused inside Don Dale detention centre – 6 February 2025
A series of secret recordings of a detainee at the Don Dale Youth Detention Centre were thrown out as evidence in a high-profile murder trial, after a judge found them to be a “significant intrusion into the accused’s rights”. The 17-year-old target of the recordings was last year found guilty, along with three others, of murdering an 18-year-old man in Palmerston in 2022.
Telco issues major scam warning – 6 February 2025
Australia is currently the biggest victim of scam in the world, with Australians losing $100 per head compared with $45 per head in the United States. In the UK scammers are losing around $34 per person. People fall for phishing scams within 10 seconds of arriving in the mailbox. The Australian Signals Directorate (ASD) issued an alert warning of scammers impersonating the Australian Cyber Security Centre.
Westpac Bank strikes $80k settlement with Kiwi scam victims who lost $323k to investment fraud – 6 February 2025
One of the country’s biggest banks has struck an $80,000 financial settlement with a Kiwi couple who lost $323,000 in an elaborate investment scam – offering a “goodwill payment” to resolve the dispute. The stolen cash was tracked to the account of an Australian “money mule”, who claims he was an “intermediary” for investors. Private school principal Mark Geraets accused Westpac of negligence after he and his wife Yvonne lost their life savings in March last year.
Investigation & Fraud News – Week ending 30 January 2025
Chinese model rescued from scam centre in Myanmar – 17 January 2025
Chinese authorities have reportedly rescued a Chinese model who was caught up in a human-trafficking ring in Myanmar’s lawless borderlands.
Chinese and Thai police had jointly arrested 12 suspects allegedly involved in the scam operations where the victims were being held.The model and several other victims have been returned to China.
https://www.abc.net.au/news/2025-01-17/chinese-model-rescued-from-scam-centre-in-myanmar/104831514
NSW Introduces Australia’s First Coercive Control Laws – 18 January 2025
New South Wales has taken a landmark step in addressing domestic abuse. On July 1, 2024, the state became the first in Australia to criminalise coercive control. The Crimes Legislation Amendment (Coercive Control) Act 2022, passed in November 2022, introduces a standalone offense targeting patterns of abuse in intimate relationships.
Queensland man jailed for falsely claiming COVID, flood relief payments – 22 January 2025
A north Queensland man will spend four months behind bars, after receiving more than $40,000 in COVID-19 and disaster payments. The Mackay man claimed $3,000 for himself and used his bank account to host the fraudulent claims of 25 others. The man will serve jail time and pay $10,000 in reparations to the Commonwealth over the next four years.
‘Tens of millions’: BHP sackings tip of corruption iceberg – 22 January 2025
The 26 contractors sacked by BHP so far amid a corruption probe all came from one mine. More are in the firing line.
Access to digital version of Australian required to read article
Optus says tough new scam rules are ‘unworkable’ – 22 January 2025
Australia’s biggest telco companies are fighting new scam legislation, claiming they should only be required to comply with industry codes – which cannot be enforced by law. These new rules aim to stop Australians being plagued by scams on their phones and social media.
Payroll Manager Admits to Two Employee Fraud Counts – 23 January 2025
Former payroll manager and gambling addict, Brendan Wayne Dodd pleaded guilty to two counts of fraud by an employee of at least $100,000. Brisbane’s District Court heard Dodd was working at Vita Group Ltd in Albion, when he made 99 transfers totalling $411,000 over two years and five months to himself, modifying records to disguise the payments. A psychologist’s report indicated Dodd exhibited obsessive compulsive disorder symptoms which were masked by gambling.
https://www.miragenews.com/payroll-manager-admits-to-two-employee-fraud-1395748/
WA agricultural lobby group halts operations to investigate financial misconduct – 24 January 2025
The future of an agricultural lobby group in WA is in question following a financial misconduct investigation. The president of the Pastoralists and Graziers Association says financial misconduct has been uncovered, but the organisation will survive.
The organisation will cease collecting membership fees and staff are to be stood down in the short-term.
‘Enough is enough’: Banks ramp up attack on tech giants over scams – 27 January 2025
Australian banks have called out Facebook’s parent company, Meta, for enabling scammers to use its social media platforms to lure victims and facilitate money laundering, in an escalation of their attack on tech giants for “avoiding responsibility” in tackling scams. They have accused Meta of failing to remove pages and posts even after they had been flagged as fraudulent.
Perth financial advisor Anthony Paul Torre admits stealing $1 million from clients’ superannuation funds – 28 January 2025
Anthony Paul Torre has admitted to stealing $1.03 million from three couples, one individual and one company. The offences happened between March 2010 and January 2015. The 56-year-old is “highly likely” to receive an immediate prison sentence when he is sentenced.
https://www.abc.net.au/news/2025-01-28/anthony-paul-torre-admits-stealing-clients-money/104868710
Trump administration fires more than a dozen prosecutors – 28 January 2025
The US Justice Department says it has fired more than a dozen employees who worked on criminal investigations into Donald Trump. Special counsel Jack Smith resigned from the department this month after submitting a two-volume report on the twin investigations into Mr Trump’s efforts to undo the 2020 presidential election and his hoarding of classified documents. It was also not immediately known how many of the fired prosecutors intended to challenge the terminations.
Nant distilling founder Keith Batt in court on 736 charges over alleged investor fraud – 29 January 2025
The founder of Nant Distilling, Keith Batt, has appeared in court facing charges for allegedly defrauding investors in a whisky investment scheme.
Court documents list 56 alleged victims of stealing and dishonestly acquiring a financial advantage, covering an alleged $586,680. Batt has not entered a plea and will next appear in court in May.
https://www.abc.net.au/news/2025-01-29/tas-nant-whisky-court-case/104871256
Why Australia needs better whistleblower protections – Full Story podcast – 28 January 2025
Blowing the whistle on corruption, wrongdoing and unethical behaviour can come at a huge personal cost to those who choose to speak out. Kieran Pender, associate legal director at the Human Rights Law Centre, tells Nour Haydar why more needs to be done to ensure workers who speak up about wrongdoing are protected
Bendigo Bank blames Danny McIver after he lost $70k to scammers – 28 January 2025
In September last year, Mr McIver was on his computer and a message flashed up from Microsoft warning he had been hacked. It urged him to call a number provided and he was told to download software which then gave hackers access to his computer. He then lost 70,0000. He is pursuing a complaint with the Australian Financial Complaints Authority with assistance from IT expert. The biggest issue being why Bendigo back didn’t stop the large transfers of money.
Should social media companies compensate scam victims? – 28 January 2025
Social media companies could be responsible for compensating scam victims under draft laws introduced by the federal government.
ASIC sets key regulatory focus areas for Australia’s financial system – 28 January 2025
The Australian Securities and Investments Commission (ASIC) has released its regulatory focus areas for 2025, highlighting critical issues that impact financial markets, consumer protection, and economic stability. These priorities reflect ASIC’s ongoing surveillance of the financial system and its mandate to maintain trust, integrity, and resilience across sectors.
Australia’s regulatory crackdown targets bribery, money laundering and cybercrime – 28 January 2025
This article discuss investigations trends and developments, law reforms impacting corporate criminal liability, sectors targeted by law reforms or criminal enforcement and predictions for 2025 and many other key regulatory areas.
NSW Police sergeant accused of filming and distributing vision of colleague’s genitals given warning – 28 January 2025
A complaint to the Law Enforcement Conduct Commission (LECC) alleged a NSW Police sergeant on a long drive with two junior officers allegedly refused to stop the car to allow one of the officers to use the bathroom. The officer was allegedly forced to urinate into a bottle, while the Sergeant filmed his genitals before sending the vision to a WhatsApp group.
The matter was investigated by NSW Police after a complaint by a whistleblower to the LECC, with police finding the behaviour was “unprofessional” but not “criminal”.
‘Shut me up’: Bank’s gross move after scam leaves Sydney man ‘disgusted’ – 29 January 2025
Dean Cropp wants to see laws introduced into Australia to ensure that scam victims are compensated just like in the UK. Article explains how he was scammed $40000 and that banks only gave him $1000.
Qld man accused of impersonating dead people in alleged $460k loan fraud – 29 January 2025
A Queensland man is facing 140 charges over an alleged fraud scheme in which he is accused of impersonating multiple people, living and dead at Gympie and the Gold Coast.
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ASIC super boss Simone Constant warns $3tr nest-egg becoming soft target as banks, telcos lift scam game – 30 January 2025
Australia’s financial watchdog fears superannuation funds will become the soft target for scammers if they fail to improve their fraud-fighting and anti-scam systems. The Australian Securities and Investments Commission has called on super trustees overseeing $3 trillion of retirement savings to start finding ways to improve their technology and governance as millions of people headed towards retirement.
Investigation & Fraud News – Week ending 24 January 2025
Pakistani court sentences ex-prime minister Imran Khan to 14 years in prison – 17 January 2025
A Pakistani court has sentenced the country’s former prime minister Imran Khan to 14 years in jail after finding him guilty of corruption. His wife was also sentenced to seven years in the same case. The couple are accused of accepting a gift of land from a real estate tycoon in exchange for laundered money when Khan was in power.
Victorian ‘whistleblower’ prosecuted after leaking information from Lawyer X investigation office – 17 January 2025
A public servant who leaked details about an investigation into Victoria’s Lawyer X scandal has been taken to court. It came after the state’s integrity watchdog launched a probe to find out who was behind the source of leaks to the Herald Sun.
The public servant was granted a diversion, meaning they will not receive a conviction or a blemish on their criminal record if they are of good behaviour for the next six months.
Australia Post warning over $19.3 million QR code rort: ‘Record amounts’ – 18 January 2025
Aussies are being urged to be on the lookout for a new “sophisticated” scam that’s lurking on Facebook Marketplace. Scammers are using fake QR codes from Australia Post to make sellers think that they have prepaid shipping for the item they’re offloading to the buyer. The seller is told to scan these codes to get the money for the item and confirm the sale, but that’s where the heist happens.
The code takes people to a phishing site that isn’t the official Australia Post website and your valuable personal and banking information can be stolen
Centrelink payment warning after Aussies targeted: ‘Urgently update’ – 20 January 2025
The new Centrelink scam of most concern at the moment, involves emails pretending to be from Centrelink, that claim you need to “urgently update” your details therwise your payments will be stopped. But the email will contain a fake myGov website that can steal your valuable information.
KPMG under investigation over audit of gambling company Entain – 20 January 2025
The accounting firm KPMG is under investigation by the sector’s UK regulator over its audit of the 2022 accounts of the gambling company Entain which owns brands including Ladbrokes, Coral and Sportingbet.
https://www.theguardian.com/business/2025/jan/20/kpmg-investigation-entain-frc
Three people, including ex-NAB employee, sentenced for trying to defraud bank of $21 million – 20 January 2025
Three people, including former NAB employee Monika Singh, have been sentenced for trying to defraud the bank of $21 million by using fake vouchers. Reports on the suitability of home detention for the trio are set to be tabled in court on March 21, but Justice Woodburne warned jail was still an option.
Historic fraud offences, Gympie and Gold Coast – 23 January 2025
Police have charged a man with 140 alleged fraud offences after extensive investigations into a series of incidents allegedly committed in 2019 and 2020 in Gympie and on the Gold Coast. The man allegedly fraudulently obtained and attempted to fraudulently obtain loans through various financial institutions, using the stolen identities of multiple people known to him.
https://mypolice.qld.gov.au/maryborough/2025/01/23/historic-fraud-offences-gympie-and-gold-coast/
Canberra tribunal orders $90,000 payout for KFC employee told to express breastmilk in toilet or storeroom – 23 January 2025
A Canberra mother has been awarded $90,000 in compensation by the ACT Civil and Administrative Tribunal after she successfully won a discrimination case against her employer. ACAT found the former KFC employee was not provided with flexible working arrangements and was instead told to express breastmilk in the toilet or a camping-style toilet.
The employer has been ordered to review its policies around giving breastfeeding employees access to adequate facilities for expressing milk.
https://www.abc.net.au/news/2025-01-23/kfc-employee-act-civil-administrative-tribunal/104851170
Could ‘criminals for hire’ be behind some antisemitic attacks in Australia? Here’s what we know – 23 January 2025
Federal authorities have confirmed they suspect “criminals for hire” may be responsible for some antisemitic attacks in Australia that have seen synagogues, cars, buildings and a childcare centre targeted with arson, graffiti and vile abuse.
But the question of who might be paying any such alleged criminals, and why they want to target the Jewish community in Australia, remains unanswered as police and intelligence agencies continue to investigate the attacks.
Domino’s pizza franchisee banned from employing trainees across 12 stores in South Australia – 23 January 2025
A franchisee operating a dozen Domino’s pizza stores in SA has been banned from employing trainees and apprentices. According to the SA government, Team Van Diemen SA Pty Ltd — which operates “over a quarter” of the Domino’s stores in the state — failed to meet training obligations. The SA Skills Commission has anticipated further action against others in the same sector, warning that the practices it had uncovered were common among fast-food operators.
Experts question how accused drug smuggler used fake documents to flee – 23 January 2025
Hussein Chamas, 35, has not been seen for two weeks after absconding from a rehabilitation centre using forged Supreme Court bail documents. An ex-judge and a crime expert say an in-depth investigation is needed into how the documents were forged. Australian Federal Police officers are working with a range of law enforcement agencies to find the fugitive.
