Tag: Corporate Crime

Financial sector slow to clean up its act despite royal commission revelations – Business – ABC News (Australian Broadcasting Corporation)

Former NAB superannuation chair Nicole Smith looks down walking outside court

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)

Catholic Church ‘hiding behind the law’ over historic abuse compensation claims – ABC News (Australian Broadcasting Corporation)

A man who was raped and beaten by priests and brothers as a 12-year-old says he felt like a beggar when he asked the Catholic Church for money to pay for medical bills for treatment of the mental and physical illness he suffered as a result of his abuse.Russell Clark is just one of many survivors of abuse who signed deeds of release, which prevent them from taking further legal action or requesting more compensation.

Source: Catholic Church ‘hiding behind the law’ over historic abuse compensation claims – ABC News (Australian Broadcasting Corporation)

ATO’s tax gap figures revealed: $2.5 billion missing from corporates, multinationals

In the 2014-15 year there was a huge $3 billion variance between tax bills initially issued by the ATO to 81 large companies, and the money the agency ended up pocketing after it cut deals with these companies.

Source: ATO’s tax gap figures revealed: $2.5 billion missing from corporates, multinationals

The Criminals who amplified Harvey: Trump & Cabinet must Resign

This is not an administration, it is a rogues gallery of environmental criminals.Want to know why we’re having a once in a 500 years storm and flood in Texas?Because of Trump and his buddies on the cabinet. They are creating a situation where Hurricane Harvey becomes the new normal.They should resign.

Source: The Criminals who amplified Harvey: Trump & Cabinet must Resign

55 workers sacked by Telstra NBN provider | CEPU – The Communications Union

Mr Murphy said the sackings are the result of the failed, sham pyramid contracting scheme employed by Telstra and their contracting partners.“The Federal Government and NBN Co are turning a blind eye to these dodgy employment set-ups. This company has been the subject of a number of worker complaints including the failure to provide adequate training, unlawful withholding of overtime payments and unfair dismissals. NBN Co and the Federal Government know the way their contractors are operating, but they don’t seem to care. They’ve got a lot to answer for.

Source: 55 workers sacked by Telstra NBN provider | CEPU – The Communications Union

Crime and terror in the banks | The Saturday Paper

The Saturday Paper logo

Tabcorp was fined $45 million in March for breaching money laundering laws 108 times over five years. AUSTRAC boasted at the time that the ruling was the largest civil penalty in Australian corporate history. Applying the same standard to the 53,760 breaches Commonwealth Bank is accused of would see it staring down the barrel of a $22 billion penalty.

Source: Crime and terror in the banks | The Saturday Paper

Adani fined for dumping coal-laden stormwater into sea at Abbot Point | Business | The Guardian

Dumped water containing over eight times the permitted amount of sediment was released by family-linked company during Cyclone Debbie in March

Source: Adani fined for dumping coal-laden stormwater into sea at Abbot Point | Business | The Guardian

Commonwealth Bank in damage control over anti-money laundering allegations – ABC News (Australian Broadcasting Corporation)

The Commonwealth Bank is locked in the early stages of damage control as it confronts allegations it allegedly breached anti-money laundering rules.

Source: Commonwealth Bank in damage control over anti-money laundering allegations – ABC News (Australian Broadcasting Corporation)

If you have regular pathology tests, here is something you should know – » The Australian Independent Media Network

A little back story may be appropriate. In February 2015 I looked at Medicare. It was noticeable that pathology services constituted a large percentage of the total services. I doubt the proportion has dropped since. I contribute to that proportion: I have auto-immune conditions. I spend considerable time and money ensuring they are kept under control.…

Source: If you have regular pathology tests, here is something you should know – » The Australian Independent Media Network

Suspected Chinese-Australian money launderer gambled ‘astronomical’ $850m at Crown Casino

The wife of a suspected Chinese-Australian money launderer who allegedly turned over more than $850 million at Crown Casino has failed in her bid to access a Californian luxury home held under proceeds of crime laws.

Source: Suspected Chinese-Australian money launderer gambled ‘astronomical’ $850m at Crown Casino

Wells Fargo caught creating ‘ghost’ accounts to steal millions from customers

Wells Fargo, one of the world’s biggest banks, just got caught in an elaborate scheme charging customers for bank accounts they never signed up for.

Source: Wells Fargo caught creating ‘ghost’ accounts to steal millions from customers