11 stories this week:
Intelligence firm warns of scams involving AI “deep fake” voices – 24 May 2023
AI has made it easier for scammers to fool consumers and employees, with “deep fake” voice technology allowing criminals to impersonate companies, government agencies, and even family members. The outlook for voice cloning and its use in particular in banking fraud, disinformation, social engineering, copyright infringement, and more is bleak if we do not immediately adopt an industry-wide approach to mitigating associated risks.
The importance of being prepared for an Environmental, Social and Governance (ESG) investigation – 24 May 2023
Environmental, Social and Governance (ESG) policy remains an evolving field peppered with numerous issues, complexities and nuances. The article discusses the growing prospect of being subjected to an ESG investigation and the challenges it brings for organisations.
Cyber criminals are exploiting out-of-office emails to scam small businesses – 24 May 2023
Cybercriminals are using increasingly sophisticated means to fool business owners and staff, funnelling significant sums into fraudulent bank accounts. The federal government has committed $23.4 million to the Cyber Wardens initiative. This article details simple steps to boost small business cyber security.
Money mules are involved in the majority of scam reports, ACCC says – 24 May 2023
Jenny lost almost $300,000 to an elaborate scam using 11 ‘money mules’ who were involved in shifting her money offshore. Often recruited through job ads, money mules have become a big part of the scamming economy as they are out of the reach of law enforcement. The Australian Competition and Consumer Commission’s Catriona Lowe says they are a huge part of the scamming economy, which fleeced people of $3.1 billion last year.
How global organisations are combatting identity fraud – 24 May 2023
According to the Australian Institute of Criminology, the annual economic impact of identity crime is upwards of $3.1 billion. The need for digital identity verification tools has been growing for years, particularly in Australia with the uptake of digital services like telehealth appointments, online learning and applying for government benefits online, but major companies need to catch up by improving their digital checks and balances.
Melissa Caddick is dead, coroner confirms, but nature of her demise remains unknown – 25 May 2023
The NSW Coroner has found alleged Sydney fraudster Melissa Caddick is dead but says it’s not possible to draw conclusions about how or where she died. ASIC had been investigating an alleged Ponzi scheme run by Ms Caddick and an inquest into her suspected death heard investors lost between $20 and $30 million. At the time her home was raided, authorities suspected she had stolen in excess of $23 million.
https://www.abc.net.au/news/2023-05-25/melissa-caddick-nsw-coroner-rules-fraudster-is-dead/102390386
Sydney entrepreneur Andrew Spira denied bail in NT court after allegedly attempting to obtain illegal passport to flee the country – 24 May 2023
Andrew Spira, a “wealthy” entrepreneur who breached his interstate bail conditions to travel to the Northern Territory and allegedly attempted to fraudulently obtain a new passport to flee the country has been denied bail. He is charged by NT Police with a range of offences including using and possessing false documents, possessing an unlicensed firearm, drug possession and obtaining property by deception.
https://www.abc.net.au/news/2023-05-24/nt-andrew-spira-denied-bail/102387550
Convicted killer Alex Murdaugh indicted over allegations he stole money from family of dead housekeeper – 25 May 2023
Richard “Alex” Murdaugh, already convicted of murdering his wife and son, has been indicted on 22 counts of financial fraud, including charges involving the death of his housekeeper. It is alleged that the personal injury lawyer defrauded more than $5.2 million from an insurance settlement meant for the family of his housekeeper, Gloria Satterfield. The case attracted huge interest from around the world, and featured in a Netflix documentary.
https://www.abc.net.au/news/2023-05-25/alex-murdaugh-indicted-on-fraud-after-murder/102390264
PwC agrees to ‘stand down’ staff who knew about Treasury tax leak from government contracts – 25 May 2023
PwC has agreed to an order to “stand down” any staff who knew about Treasury tax leaks from working on any existing or future government contracts. The Government Finance deppartment asked suppliers to agree to a clause that would allow contracts to be terminated over poor handling of a breach. Police are continuing to investigate.
https://www.abc.net.au/news/2023-05-25/pwc-ordered-to-stand-down-staff-over-tax-leak/102392134
NSW Crime Commission to review Alex Greenwich allegations of ‘constrains’ on money laundering report – 26 May 2023
The NSW Crime Commission (NCC) has ordered staff to review allegations that its landmark report into money laundering through poker machines may have been “compromised”. Independent MP Alex Greenwich has now raised concerns about the accuracy of the data on money laundering, saying he had been told “the full extent” may not be reflected in the report. Among the allegations were that some pubs and clubs had been “tipped off” about upcoming compliance checks.
