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Salim Mehajer sued by Jason Tran claiming damages for apartment development – 24 October 2017
A first home buyer is suing the Sydney property giant Salim Mehajer for compensation after purchasing an off-the plan unit in one of Mehajer’s developments. According to Tran, soon after he placed the deposit, he was informed that work on the building had not yet started, and Mehajer had filed an application to reduce the size of the unit.
Whistle-blower laws to force big companies to act – 22 October 2017
Following the US SEC investigation against Rio Tinto, courtesy of a whistle-blower, the Turnbull government is set to draft legislation on whistle-blower protection reforms. The legislation is likely to require public companies to have a whistle-blower policy in place, or face large penalties.
Gone in 15 seconds: why faster bank transfers make Australia and even bigger target for email fraud – 19 October 2017
Concerns have been raised over the potential increase in business email compromise (BEC) fraud attacks that could result from the Reserve Bank of Australia’s New Payments Platform (NPP), due to be implemented in January. The near real-time funds transfer will mean that funds could disappear from accounts before victims even realise they have been targeted.
Former Rio Tinto CEO Tom Albanese, ex-CFO Guy Elliott charged with fraud by SEC – 19 October 2017
Mining giant Rio Tinto and two of its former executives have been charged with fraud, after it was discovered they allegedly inflated the value of coal assets acquired in 2011. The CEO and CFO failed to follow accounting policies and comply with company policies, and have been charged with violating the anti-fraud, reporting, books and records and internal control provisions of the federal securities law.
