News and Analysis

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‘It makes no sense’: Former PayPal CEO says bitcoin is the ‘greatest scam in history’ – 26 April 2018

Promoters ‘pump’ up the price of a security creating a speculative frenzy, then ‘dump’ some of their holdings at artificially high prices. Ernst & Young estimates that 10 per cent of the money raised for initial coin offerings has been stolen.

http://www.news.com.au/finance/money/investing/it-makes-no-sense-former-paypal-ceo-says-bitcoin-is-the-greatest-scam-in-history/news-story/3ab1193c520f6eba1dafa1100e144726

Banks take five years/Fruits to refund fraud victims /larger fines in wake of banking royal commission – 23 April 2018

If big banks forge documents or charge for a service they don’t deliver, Australians wait an average of five years before getting a refund.

New reforms announced last week will see banks who break the law facing fines as high as $210 million and equip the corporate regulator with stronger enforcement powers.

https://www.choice.com.au/money/banking/everyday-banking/articles/banks-5-years-refund-fraud-victims-230418