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Apple and Google pull hundreds of trading apps from stores over fears of financial scams – 4 August 2017
ASIC has cracked down on online fraud after it conducted a review of mobile app stores, focusing on binary options trading. Since being contacted by ASIC, Apple and Google have removed relevant apps from their respective stores.
Forget Commonwealth Bank’s $9.8b profit next week, Ian Narev will be explaining “cuckoo smurfing” – 4 August 2017
More details on the CBA money laundering scandal.
Austrac alleges CBA in ‘serious’ breach of money laundering act – 4 August 2017
Austrac has alleged that The Commonwealth Bank has breached money laundering laws after failing to report a number of large cash transactions made through intelligent money machines.
This included six instances where the bank believed customers were possibly financing terrorism.
AFP hunts Australian dark net users after sites taken down – 28 July 2017
The AFP has received a trove of information about anonymous users following the closure of two of the biggest dark net marketplaces. Anonymous users use sites similar to the now closed AlphaBay and Hansa to sell online banking details and steal money from the accounts. Other uses include the buying and selling of illicit substances and drugs, an activity that is on the rise in the Australian marketplace.
