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A Disney whistleblower is accusing the company of overstating its revenue by billions – 20 August 2019
A former senior accountant (Sandra Kuba) at Disney has accused the entertainment giant of overstating its revenues by billions of dollars. She alleged Disney employees recorded non-existent sales from giveaways and artificially inflated revenue from gift cards and claimed the company’s revenue could have been overstated by as much as $US6 billion, or 20%, in 2009 alone.
ANZ, NAB wail their crap data blues to ASIC – 20 August 2019
ANZ and NAB are pushing back against regulatory proposals that would require them as credit licensees to collect and cross-check account and credit card statements, against statements of income, expenses and expenditure. They say there will be a raft of expensive IT headaches and cost implications if a manual approach is taken.
https://www.itnews.com.au/news/anz-nab-wail-their-crap-data-blues-to-asic-529831
Treasurer steps up banking commission reforms after customers lose $201 billion – 19 August 2019
Treasurer Josh Frydenberg has stepped up the pace on the implementation of the recommendations from the Hayne banking royal commission after researchers revealed Australians had lost $201 billion to financial misconduct by the banks. The research from the University of Melbourne found 54 per cent of Australians had been slugged by fraud or misconduct by financial institutions over the past five years.
Fraud accused: Justin Luke Yianakis taken to hospital for treatment – 19 August 2019
A BIPOLAR man accused of defrauding betting giants and a bank of $3 million has had his bail conditions varied, to undergo treatment in hospital. Yianakis faces 67 fraud-related charges, including dishonestly obtaining financial advantage by deception, publishing false or misleading material to obtain an advantage, dealing with identity information to commit an indictable offence, knowingly deal with proceeds of crime and dishonestly obtaining property by deception.
