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The Latest Breaking News from ASIC

'He groomed me': How UK scammer fleeced woman of $240,000

Newcastle disability pensioner lost $240,000 to investment scammer.

Newcastle Herald

How scammers are ripping off hard-working Novocastrians

Federal government is fighting back against online scammers.

Newcastle Herald

Morning Mail: police referral in crypto scheme, Australian link to Iran drone research, Prabowo ahead in Indonesia vote

Asic referred HyperVerse information to police in 2020 but no action taken; former general Prabowo Subianto on course for presidency

The Guardian - AU

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Victoria police were asked to look at HyperVerse information in 2020 – but sent case back to Asic 22 months later

Australian financial regulator says it referred crypto scheme to police for alleged ‘possible fraud’ and believed matter was under ‘active consideration’

The Guardian - AU

Labor to provide $97m for victims of predatory insurance provider ACBF-Youpla

The support program will run for two years and aim to bring ‘peace of mind’ to thousands of Indigenous Australians

The Guardian - AU

Sam Lee appears in video promoting new investment scheme days after US fraud charges

Australian blockchain entrepreneur urges followers to ‘continue the journey’ with him in a video recorded days after he was charged with conspiracy to commit fraud

The Guardian - AU

Westpac Guilty of Misconduct in 2016 Rate Swap Deal

Australia's Westpac has been found guilty of misconduct in a 2016 rate swap deal by the country's financial regulator. Find out more about this case.

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Westpac to pay millions after 'unconscionable conduct'

After being taken to court by the corporate watchdog, Westpac has been penalised for engaging in in unconscionable conduct in 2016.

AAP

Asic examines collapsed bitcoin company Blockchain Global after Guardian investigation

Regulator takes action after masthead reveals links between two of company’s directors and a series of failed crypto schemes

The Guardian - AU

‘I do feel bad about this’: Englishman who posed as HyperVerse CEO says sorry to investors who lost millions

Exclusive: Stephen Harrison says he was paid to play role of chief executive of the crypto investment scheme but denies having ‘pocketed’ any of the money lost

The Guardian - AU

Hunter residents and super funds hit by $13m collapse of local lender Funda

'Unlikely to be a good outcome,' Funda director Nathan Wright.

Newcastle Herald

Asic faces questions over failure to warn consumers about HyperVerse crypto scheme

Assistant treasurer Stephen Jones says concerns should have been raised about scheme that appeared to be selling ‘worthless investment products’

The Guardian - AU

Newcastle AMP financial adviser banned for 'real conflict of interest'

AMP kept Darron Mink on after he breached the Corporations Act.

Newcastle Herald

Investors lose millions as crypto schemes operate unchecked in Australia

Exclusive: the New Zealand regulator has warned the schemes could be a ‘scam’ but they have escaped such scrutiny in Australia and thousands have lost money

The Guardian - AU

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news in one place.

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AAP

ANZ fined by regulator over disclosure failings

The Federal Court has ordered ANZ to pay a $900,000 penalty for failing to transparently declare where its shares went in a 2015 capital raising event.

The Conversation

Social media ads are littered with ‘green’ claims. How are we supposed to know they're true?

Online platforms are awash with ads for so-called “green” products. Power companies are “carbon neutral”. Electronics are “for the planet”. Clothing is “circular” and travel is “sustainable”. Or are they?

AAP

Hefty fine for RACQ after misleading discounts

Insurer RACQ has been hit with a $10 million penalty in the Federal Court after potentially misleading customers about price discounts.

AAP

Mercer Financial fined $12m over fees for no service

Mercer admitted inadequate fee disclosures and to charging 761 clients a combined $4.7 million in fees for services they never received.

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news in one place.

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AAP

Nuix lawsuit 'in the teeth' of ASIC's own advice

Nuix has claimed public guidance provided by ASIC around disclosure contradicted the financial watchdog's own lawsuit against the investigative software firm.

inkl

Strategic Changes to CFD Trading in the UK and Australia

Discover how UK and Australian CFD traders adapt to new regulations with more intelligent risk management and strategic trading in the Forex and Crypto domains.

AAP

'Underperforming' Nuix stayed mum after $1.8b float

Nuix has been accused of misleading the market by not publicly divulging a failure to meet financial targets presented during a $1.8 billion public offering.

The Guardian - AU

Loan sharks taking advantage of desperate Australians amid cost-of-living crisis, Asic warns

Corporate watchdog says lenders targeting people with small, high-interest loans, leading to ‘debt spirals’

AAP

'Alarming': big gaps in organisations' cyber security

The corporate regulator has called on organisations to prioritise cyber security after a survey revealed significant threats to the private data of Australians.

The Canberra Times

What led ASIC to ban a Canberra property developer

Former directors had links to more than 40 companies.

AAP

Pair to stand trial over alleged $2.2 million fraud

Two men accused of using telemarketing to lure investors into a $2.2 million fraudulent property scheme have been ordered to stand trial.

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