Corporations and officers can now be held responsible for predatory business models – 22 October 2024
Australian courts have long faced difficulties due to an inability to successfully pinpoint which individuals within a corporation were to blame for the conduct. The High courts have now decided that if a corporation has adopted a predatory business model, which is only profitable by taking advantage of a certain class of vulnerable customers, then it is assumed that the corporation acted knowingly and with intent. As such, the corporation can be held directly responsible and penalised. Furthermore, if a corporation is found to have acted unconscionably, any of its executives who had knowledge of the corporation’s systems can be also found to have acted unconscionably.
https://www.lexology.com/library/detail.aspx?g=64b5fb7e-ef78-43c4-9399-85c77f642374
Scammers pose as fake loan schemes, charities to target vulnerable Australians – 22 October 2024
The National Anti-Scam Centre is warning that criminals are targeting people in financial hardship by impersonating trusted organizations and offering fake programs like no-interest loan schemes, rental assistance, and emergency relief services. These scams often mimic legitimate services provided by well-known charities, such as Good Shepherd and the Salvation Army, which are intended to support low-income earners and those facing unexpected financial difficulties.
Secrecy is not security – 23 October 2024
A discussion on whistleblower protections, improving the National Anti-Corruption Commission, and why Australia may be the world’s most secretive democracy.
https://australiainstitute.org.au/post/secrecy-is-not-security/
Does Australia need a surveillance tech regulator? – 23 October 2024
The Australian Council of Trade Unions is calling for an artificial intelligence regulator to protect employees from exploitation and privacy breaches due to virtual workplace monitoring.
Insurance giant QBE taken to court by ASIC over allegedly misleading customers with false discounts – 23 October 2024
QBE has been sued by the corporate regulator over claims it misled customers about discounts. ASIC will take the insurer to court and accuse it of promising discounts for home, contents and car insurance which weren’t delivered. The discounts were offered to customers for their loyalty over a five-year period between July 2017 and September 2022, according to ASIC.
Former Abercrombie CEO out on $10m bond amid sex-trafficking investigation – 23 October 2024
The former Abercrombie & Fitch CEO Mike Jeffries was arrested on Tuesday as part of a criminal sex trafficking investigation by federal prosecutors. Authorities allege that Jeffries, his British partner Matthew Smith and a third man, Jim Jacobson, ran an “international sex trafficking organisation” that coerced “dozens and dozens” of men into sexual acts, often for the promise of a modeling career with the clothing retailer.
https://www.theguardian.com/business/2024/oct/22/former-abercrombie-ceo-arrested-sex-trafficking
Aussie crypto CEO charged with fraud – 24 October 2024
The former CEO of collapsed Australian cryptocurrency exchange Mine Digital, Grant Colthup, has been charged with fraud after an investigation by the corporate regulator found a customer did not receive millions of dollars’ worth of Bitcoin they had paid for.
https://ia.acs.org.au/article/2024/aussie-crypto-ceo-charged-with-fraud.html
‘Posting and boasting’ about crimes on social media now an offence in the NT, following similar laws in QLD, NSW – 25 October 2024
The Northern Territory last week became the third Australian jurisdiction after Queensland and New South Wales to make posting about certain crimes on social media an offence. But experts are warning that the measures only target the “symptoms” of crime and won’t be effective. The federal parliament is considering a private members bill from Coalition MP David Coleman to introduce post and boast laws nationally.
‘Years of unblemished service’: Manager claims unfair dismissal, no proper investigation – 25 October 2024
The Fair Work Commission (FWC) recently dealt with an unfair dismissal claim where a manager argued she was terminated without proper investigation after four years of unblemished service. The manager maintained she had never received any prior complaints about her management style, and that her dismissal came suddenly during her personal leave. The case examined what constitutes reasonable grounds for summary dismissal under the Small Business Fair Dismissal Code, particularly when dealing with workplace conduct complaints.
Jailed Malaysian leader Najib Razak apologises for 1MDB embezzlement scandal – 25 October 2024
A Malaysian sovereign wealth fund co-founded in 2009 by then-leader Najib Razak has faced corruption probes in at least six countries. A court is set to determine on October 30 whether to acquit Najib or ask him to enter his defence on money laundering and corruption charges in a 1MDB-related case
Illegal cannabis crop worth more than $26 million seized by police in Leongatha South – 25 October 2024
Victoria Police have seized and destroyed more than $26 million worth of illegal cannabis plants in regional Victoria.Four men and one women were arrested at the scene and have been charged with cultivating and trafficking a commercial quantity of cannabis.
