11 stories this week:
Scope of Victoria’s Crown royal commission expanded, budget near-doubled after ‘significant’ revelations – 11 June 2021
The scope, length and budget for Victoria’s Crown royal commission has been expanded from $10m to $19.75m after ‘significant’ revelations and matters have emerged. The Victorian investigation will determine if Crown is fit to hold a gaming licence for its Melbourne casino, while a separate royal commission is doing the same for the Perth venue.
Former Mayor’s banker son-in-law sacked, charged amid fraud claims – 11 June 2021
The banker son-in-law (Andre Andrada) of a former southeast Queensland mayor has been dismissed from his senior finance position and charged by police amid allegations of fraud.
(Access to the Courier Mail required to read article.)
Crypto crackdown underway as ATO locks in data-matching program – 11 June 2021
The ATO’s cryptocurrency data-matching program, will now scrutinise cryptocurrency transactions and account information from designated service providers for a further three financial years to 2022-23. According to the ATO, the data will uncover individuals who have failed to report a disposal of cryptocurrency and the appropriate capital gain or loss in their income tax return.
Australia’s great CCTV security risk – 11 June 2021
Sydney alone has more than 60,000 increasingly sophisticated CCTV cameras. Australia’s Internet of Things (IoT) market grows, individual CCTV cameras are becoming internet-enabled which also makes them hackable. In the mind of an attacker, it means there could be 60,000 entry points through which they could attempt access.
https://www.bit.com.au/guide/australias-great-cctv-security-risk-565858
Bid to use criminal cash to refund scam victims – 11 June 2021
A survey suggests, that a policy of refunding scam victims using money from criminals’ frozen bank accounts would be popular.
https://au.news.yahoo.com/bid-criminal-cash-refund-scam-100956531.html
Financial crime task force takes aim at cryptocurrency, pandemic fraud – 12 June 2021
The peak agency looking at financial crime is preparing to crack down on cryptocurrency transactions, to head off their role in tax avoidance while also combatting efforts by criminals from using digital currency such as bitcoin to bring cash back home.
(Access To the Australian digital version required to read article.)
Sony, Sackings, Fines, now Global Bullying & Harassment Investigation – 13 June 2021
Sony is back in the headlines as global bosses finally investigate the Australian operations for questionable conduct, that has been going on for decades at the scandal ridden Company. The latest investigation follows new claims of discrimination, bullying and harassment at its Sony Music operation.
https://www.channelnews.com.au/sony-sackings-fines-now-global-bullying-harassment-investigation/
Young woman loses $150k in crypto investment scam – 13 June 2021
A 25-year-old woman’s online dating venture took an expensive turn when she was scammed out of $150,000 in a fake cryptocurrency investment.
https://news.bitcoinguide.com/2021/06/13/young-woman-loses-150k-in-crypto-investment-scam
Nuix CEO and CFO step down after disastrous IPO – 15 June 2021
Nuix announced that its CFO Stephen Doyle was being “terminated by mutual agreement.” Half an hour later, CEO Rod Vawdrey had given notice of his decision to retire. Their departures follow a joint investigation by The Sydney Morning Herald, The Age and The Australian Financial Review which exposed serious culture and governance issues, missed sales forecasts and a previous attempted coup to oust Mr Vawdrey.
Convictions of fraud and insolvent trading set aside – 17 June 2021
A founder of collapsed whitegoods supplier Kleenmaid could face a fourth trial for charges, including fraud after winning an appeal based on whether juries should consider mental health concerns.
South Australia’s Tailem Bend Netball Club loses $150,000 in online invoice scam – 17 June 2021
The Tailem Bend Netball Club has lost $150,000 in an online scam. Scammers hacked the club’s email and sent invoices to the club with incorrect accounts
