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NAB to start refunds over loan fraud case – 15 March 2018
NAB is set to start issuing refunds after fraud was uncovered through their introducer program, which pays businesspeople outside of the bank for successful lending referrals. Investigations have found that bankers helped customers prepare false documents for the loans they received commissions on.
https://www.sbs.com.au/news/nab-to-start-refunds-over-loan-fraud-cases
Street Swags founder Jean Madden charged with seven new counts of fraud – 14 March 2018
Former young Australian of the year and founder of homeless charity Street Swags Jean Madden has been charged with fraud, after allegations that she rorted Street Swags of over $150,000 and falsified a registry with ASIC.
Victorian Opposition frontbencher Tim McCurdy charged with fraud offences – 13 March 2018
Nationals MP Tim McCurdy has been charged with multiple counts of fraud, including making and using a false document, and attempting to obtain and obtaining property by deception. The charges relate to an investigation in 2009, and the MP has stood down from the frontbench to fight the charges.
http://www.abc.net.au/news/2018-03-13/tim-mccurdy-victorian-opposition-charged-with-fraud/9543648
Multi-factor authentication tabled as a solution to Australia’s $443 million online card fraud problem – 8 March 2018
Recent data from the Australian Payments Network has revealed that over 80% of Australia’s card fraud results from CNP (Card Not Present) transactions. In an initiative to combat such fraud, the Australian Payments Network is looking into measures such as multi-factor authentication, and dynamic CVV numbers.
