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RBA crushes hopes of Libra launch – 10 January 2020
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 consumer/investor protection, data privacy, monetary policy, and financial stability.
http://financialstandard.com.au/news/rba-crushes-hopes-of-libra-launch-152186534
Former Kleenmaid director found guilty of fraud and insolvent trading after a 59-day trial – 10 January 2020
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 account.
Cyber threats that use social engineering – 10 January 2020
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 and individuals.
http://techradar.com/au/news/cyber-threats-that-use-social-engineering
ASIC targets brokers over ‘poor’ funds – 9 January 2020
The corporate regulator will audit stockbrokers who are being paid commissions by fund managers and investigate the misselling of poorly performing listed investment funds to retail investors.
http://afr.com/companies/financial-services/asic-targets-brokers-over-poor-funds-20200107-p53pfy
