PwC wrongfully claimed legal privilege over documents to frustrate Tax Office, inquiry told – 2 August 2024
Consulting giant PwC systematically frustrated the Tax Office by wrongfully claiming legal privilege over thousands of documents, according to the evidence of the former general counsel and chief executive in their first statements since they resigned following the tax leaks scandal.
Access to digital version of SM required to read full article
AFP discovers 2000 compromised Australian cryptocurrency wallets – 4 August 2024
The Australian Federal Police has found more than 2000 Australian-owned cryptocurrency wallets were compromised by offshore scammers, poised to steal millions of dollars in digital assets. The trove was discovered as part of a multi-nation effort dubbed Operation Spincaster, the local arm of which was run out of the AFP-led Joint Policing Cybercrime Co-ordination Centre, also known as the JPC3.
Australia: An increasingly global approach to criminal investigations – 5 August 2024
This article considers the major Australian government investigative, law enforcement and regulatory agencies (as well as the tools and techniques utilised by these agencies) to address domestic and transnational investigations, with a particular focus on their increasing need to adopt a global approach to adequately protect Australians from criminal threats, both local and internationally.
ANZ boss may have to hand back millions – 5 August 2024
ANZ chief executive Shayne Elliott is facing a potential multimillion-dollar hit to his pay and the prospect of handing back bonuses as he grapples with a major bond trading scandal.
Access to digital version of The Australian required to read article.
Westpac shuts down RAMS Financial amid regulatory probe – 6 August 2024
Westpac will shut down its troubled RAMS Financial business, which it has unsuccessfully tried to sell and which is currently under investigation by the corporate watchdog, ending the brand’s 33-year run in Australia. RAMS was once the largest non-bank originator, funder and servicer of home loans in Australia.
Facebook whistleblower Frances Haugen says Australia has a ‘once-in-a-decade chance’ to fix its social media law – 7 August 2024
Australia is at risk of fumbling a “once-in-a-decade opportunity” to regulate social media, according to Facebook whistleblower Frances Haugen. Three years ago, Ms Haugen smuggled tens of thousands of documents out of the world’s largest social media company, revealing that its executives knew the risks Facebook and Instagram posed to billions of users — in particular, children. The Australian government is now poised to update its key social media law the Online Safety Act, amid rising public anxiety about predatory algorithms.
Australia:Cyber incidents return as biggest worry for businesses in 2024 Allianz Risk Barometer – 7 August 2024
Cyber incidents such as ransomware attacks, data breaches, and IT disruptions are the biggest worry for companies in Australia, according to the Allianz Risk Barometer 2024, the 13th edition to date. Cyber risk dislodges natural catastrophe risks as the topmost risk in the country. The proportion of businesses that ranked this risk increases to 52% in this year’s report compared to the 2023 Barometer. Cyber was ranked joint No. 1 risk with business interruption in 2022.
CFMEU, health union probed over alleged millions spent on ‘ghost printing’ – 7 August 2024
Two of Australia’s most prominent trade union figures, ex-CFMEU boss John Setka and the Victorian head of the Health Services Union, Diana Asmar, are facing a multi-agency investigation into allegations that more than $3 million of union money was paid to printing firms for non-existent or “ghost” services. Ms Asmar, is now also separately facing questions over almost $200,000 of members’ funds she allegedly spent on work expenses, including Gold Class movie tickets, alcohol, meals and items from IKEA.
Australians don’t want to be monitored at work, in shops – 7 August 2024
Australians overwhelmingly believe police should be able to use facial recognition technology (FRT) to identify suspects from photos and CCTV footage – but a new survey has found near universal agreement that using FRT in workplaces and public spaces is a bridge too far.
https://ia.acs.org.au/article/2024/australians-don-t-want-to-be-monitored-at-work–in-shops.html
Why my face keeps appearing on crypto scams – 7 August 2024
Posing as someone else, scammers use phoney profiles to interact with potential victims, attempting to win their trust by using bogus credentials. The Australian Government is saying enough is enough, announcing a code of conduct for banks, telcos, and social media platforms. The code will fine companies and hold them liable for victim compensation if they do not meet their obligations to detect, prevent, and disrupt scam activity.
https://www.moneymag.com.au/ben-rose-binance-face-keeps-appearing-on-crypto-scams
Former bank staffer ‘destroyed’ after being charged with 120 fraud offences – 8 August 2024
A former bank employee’s life has been “destroyed” by allegations she defrauded multiple banks out of tens of thousands of dollars. Prosecutors allege she siphoned money into the fake accounts and used the ill-gotten gains to fund a lavish lifestyle
Queensland government announces investigation into Brisbane’s Wolston Park – 8 August 2024
The Queensland government will launch an investigation into a Brisbane mental health institution following reporting by the ABC into historical allegations of abuse at the facility. As part of an ABC investigation, former patients spoke for the first time about the alleged abuse they experienced, sharing medical files ordinarily sealed for 100 years.
https://www.abc.net.au/news/2024-08-08/queensland-government-to-investigate-wolston-park/104200482
Ombud publishes myGov fraud investigation – 9 August 2024
The findings of a Commonwealth investigation into Services Australia’s response to myGov fraud have been released to the public following complaints made to the ombud’s office. Services Australia has accepted the report’s four recommendations, which broadly call for improvements to security controls for unauthorised linking and high-risk transactions; how Services Australia and individual member services manage shared risks within the myGov ecosystem; and the way three member services respond to customer reports of fraud and breaches to individual records
https://www.themandarin.com.au/252185-ombud-publishes-mygov-fraud-investigation/
