Were Banks included in these figures along with other corporate bodies?
However even forget that, the greatest scammers that targeted Australia were actually Captain Cook from the very first moment of discovery and it continued from then until invasion day and thereafter till now. Conservatives want all of this history written out of the Australian narrative? Far too inclusive for them it seems and it might lead to TREATY and RECOGNITION. We can’t have that!! Why is NZ so different to us when it comes to an honest and shared history of their nation? Why is it that it threatens Conservatives in the IPA, LNP and News Corp so much? Their paid for News Corp voice simply calls shared historical fact as “fake” but not so the ABC that opens these stories to be shared to us all? (ODT)
via Australians lost nearly half a billion dollars to scammers in 2018, says ACCC – Business – ABC News (Australian Broadcasting Corporation)
Do we need proof of the unfair bias in our laws when an indigenous Australian can be jailed for the theft of a Mars Bar and his employer can’t be charged fo underpaying him? (ODT)
“The Fair Work Act contains very hefty civil penalties for wage underpayments. The penalties were increased by up to 20 times last year,” he said. “Therefore, any view that the previous penalties were not tough enough has already been very comprehensively addressed.
“Any civil case relating to back-pay would be put on hold by the Courts until the criminal case is heard and determined. Therefore, workers would be waiting years for back-pay.”
Victorian Attorney-General Jill Hennessy said the existing legal regime has failed to prevent underpayment of workers in low paid industries such as hospitality.
“The new laws will be drafted carefully to address any potential constitutional inconsistency issues,” he said.
via Criminalisation of wage theft likely to backfire, say experts
A former Guide Dogs Victoria manager who defrauded the charity of $210,000 to install a pool at his home and pay for restaurant meals, groceries and other personal items has been spared jail.
via Robbed blind: No jail for ex-manager who defrauded Guide Dogs Victoria
ABC investigation uncovers evidence a convicted fraudster is continuing to take tens of thousands of dollars off foreign students
He promises them visas and jobs, but they never eventuate and one woman found herself deported without a visa
Students say federal immigration authorities have failed to act against Eddie Kang despite complaints, which Kang says are “unfounded”
via Serial conman Eddie Kang up to old tricks ripping off vulnerable students – Business – ABC News (Australian Broadcasting Corporation)
Private job-seeking operators are stripping people of unemployment benefits without consulting government departments, leaving them with few avenues of redress despite up to 1 million mistakes being made last year.
via ‘A travesty of justice’: Job seekers stripped of payments by private companies
I WORKED AS a prison officer in a maximum security prison from 2010-2013. In that time, I met a lot of criminals. I left that job because I had an opportunity to pursue a career investing in the Australian stock market. I did so thinking I was leaving behind a world of criminal behaviour.
Actually, what happened was the opposite.
via The unspoken crimes of the ASX
A former senior manager at Australia’s banking watchdog APRA is accused in a lawsuit of running an array of scams, including engineering sham payouts for his wife and ripping off the credit union that headhunted him as chief executive.
Lyndon Kingston allegedly lined his pockets by rorting expenses and taking kickbacks from uncommercial contracts before he was sacked from a job he claims entitled him to up to $1 million a year.
The credit union Lyndon Kingston ran alleges he took kickbacks from $2.5 million in dodgy contracts
Court documents claim the former APRA manager gave his wife a $340,000 “sham redundancy” and rorted expenses
It alleges Mr Kingston offered the credit union’s chairman a $1.25 million consultancy to get his job back
ASIC is investigating the claims, which Mr Kingston denies
via Ex-APRA manager accused of rorting credit union while pocketing six-figure salary, court documents reveal – Business – ABC News (Australian Broadcasting Corporation)
The man running the banking royal commission, Kenneth Hayne, certainly comprehended what was going on when he questioned the head of the trustee responsible for NAB’s superannuation funds.
“Did you think yourself that taking money to which there was no entitlement raised a question of the criminal law?’ he asked.
“I didn’t,” responded Nicole Smith.
Ms Smith’s answer says a lot about the culture of Australian banking, where it seems that profit at any cost is king.
via Financial sector slow to clean up its act despite royal commission revelations – Business – ABC News (Australian Broadcasting Corporation)
If only concern was given to threats faced by the Individual citizen from both business and the business of cyber crime.We speak of market “freedoms” with little emphasis of “safety” other than “Buyer Beware” were not about to “teach” you the traps witch are increasing daily with data farming. Crime, Punishment are after all a class apart. (ODT)
Unfortunately, with around 3.5 billion internet users globally and well over 10 billion devices in use, cyber security will remain a major headache confronting business and government globally for years to come. For example, over the past year, the size of the global cybercrime economy has grown to more than $2 trillion annually, making it the world’s 13th largest economy by revenue, according to the Into the Web of Profit (Understanding the Growth of the Cybercrime Economy) study recently released by the University of Surrey in the United Kingdom.
via Cybercrime a $2 trillion threat for business
Not a African among these Immigrants and good old Aussie boys Andrew Bolt and Peter Dutton. Further none lived in Dandenong yet they ran a war in Melbourne with the aid of our Banks (ODT)
Whether the pinstripe-suited money people are corrupt, don’t care or don’t ask hardly matters, for drug money is not much good unless you can spend it. And the best way to do that is to put it through some form of spin cycle.
via White collars, dirty secrets
“It really does require a sentence to be imposed that will provide adequate deterrence to ensure that investors, who these days often are retired people who have no other means of earning a livelihood except for their investments … are adequately protected,” McLennan told a gobsmacked court.
via Where white-collar crime meets a wet lettuce leaf
Macquarie Group faces a major class action over allegations some of its investment advisers artificially inflated the price of a small mining company before a sudden collapse wiped out many of its investors.
Source: Macquarie bank faces class action over advice on worthless Brazilian mine project
What is phoenixing? When a director strips cash and assets before hiding them and liquidating the company, then restarting Usually restarted under a different name, “like a phoenix from the flames” Done to deny creditors and ATO the money owed to them
Source: Staggering number of alleged crimes in massive tax scam – ABC News (Australian Broadcasting Corporation)
About 500 words stood between Gail Winters and a diploma that would lead to a new career.
Source: Victim of Careers Australia collapse just days away from graduation
Legendary investigative journalist Bob Burton shines the spotlight on scandal-ridden private training company, Careers Australia — a major Liberal Party donor.
Source: Scandal-ridden Careers Australia, a Liberal major donor, back in spotlight
By February 7 this year, the syndicate which allegedly ran the Plutus Payroll scam had become very nervous about the future of their massive, $165 million fraud.
Source: The cocaine-snorting businessman the ATO conspirators hoped would be their patsy
A crooked accountant who defrauded clients of more than $2 million and then gambled most of it away at Crown casino has been jailed for at least four years.
Source: Geelong accountant jailed for defrauding clients of $2.2 million
Rich-list tycoons behind a vocational training empire that collapsed after receiving $100 million in government funding have been implicated in series of fraud allegations, predatory conduct towards vulnerable students and shocking vilification of business associates.
Source: Rich-list tycoons accused of fraud and shocking vilification
One of Australia’s most notorious corporate fugitives, Abraham “Abe” Goldberg, has died in Poland more than 25 years after his textile empire collapsed with debts of $1.3 billion debts and warrants were issued for his arrest.
Source: Australian corporate fugitive Abraham ‘Abe’ Goldberg dies in Poland, owing more than $1.3 billion
Australia is no longer viewed as one of the least dishonest countries in the world.
Source: Dodgy unions are not our worst corruption problem
As part of the government’s newly found willingness to send ministers jetting off to far-flung places to find out what is actually going on (and gaining credits in the polls for doing so), the Prime Minister…
Source: Do the Crime, Do the Time