15 stories this week:
Aussie watchdog forces major telcos to act on mobile scam – 8 April 2022
Telstra and Optus will soon be forced to crack down on a vicious scam targeting innocent mobile phone users in Australia. Under new The Australian Communications and Media Authority rules, telcos will be required to perform stronger customer identity checks when undertaking “high-risk” transactions such as new sim requests, changes to accounts or disclosure of personal information.
Schools chaplaincy provider bans cohabitation and ‘sexually intrusive’ behaviour in staff’s private life – 9 April 2022
A whistleblower has alleged Australia’s second biggest schools chaplaincy provider imposes a code that discriminates against staff based on relationship status and sexual conduct.
Police seize almost $5m in cash, drugs and cryptocurrency teller machines in Sydney – 10 April 2022
Police have seized, three cryptocurrency teller machines, five kilograms of illicit drugs and 4.7 million in Sydney’s south-east, as part of a multi-agency operation involving the US Department of Homeland Security. The three charged are alleged members of an international organised crime group.
Financial Fraud and Regulating Google and Facebook – 11 April 2022
Misinformation about investment products, have been costing Australians millions of dollars. The result of the ACCC v Meta inquiry could provide greater legal clarity on the duties of digital platforms absent legislation, when it comes to fraudulent advertisements published on their platforms. The inquiry is set to provide an interim report to the Treasurer by 30 September 2022.
https://www.miragenews.com/financial-fraud-and-regulating-google-and-762043/
Australians to Avoid $120 Million Loss With Automatic Anti-Scam System: Westpac Bank – 11 April 2022
A new banking system will help thousands of Australians save an estimated $120 million (US$89.3 million) annually by stopping scam transactions from fraudulent overseas sellers. Customers will have their credit and debit card transactions to overseas retailers automatically blocked if a scam is detected.
https://7news.com.au/business/banking/auto-scam-block-to-save-aussies-120m-c-6404765
Centrelink scammers target flood-hit residents in northern NSW – 12 April 2022
Scammers have obtained Centrelink customer identities and used their mailing addresses in flood-affected parts of New South Wales, to claim flood relief payments.
https://www.abc.net.au/news/2022-04-12/identity-theft-nsw-flood-relief-centrelink-fraud/100969438
Accountant jailed over $390k tax fraud – 13 April 2022
A Victorian accountant, Immanuel Shmuel has been sent to jail over fraudulent BAS statements. He was convicted of attempting to obtain a financial advantage of more than $390,000 by amending his business activity statements to reduce his existing debt and receive a refund.
https://www.accountantsdaily.com.au/tax-compliance/16890-accountant-jailed-over-390-000-tax-fraud
US man jailed for breaching sanctions by advising North Korea on cryptocurrency – 13 April 2022
Virgil Griffith, a United States man has been sentenced to more than five years in federal prison for advising North Korea on how to use cryptocurrency trading, to evade sanctions.
https://www.abc.net.au/news/2022-04-13/cryptocurrency-expert-jailed-north-korea-sanctions/100989350
A fugitive Chinese billionaire claims this cryptocurrency will overthrow Beijing. Experts say it has the ‘hallmarks of a scam’ – 18 April 2022
An ABC investigation, through analysing financial documents, private chat rooms and blockchain wallets, has unravelled a sophisticated cryptocurrency operation. The scheme has raised alarm bells for financial crime and cryptocurrency experts, who said it had the hallmarks of a scam. Guo Wengui believes HCoin, would be instrumental to their revolution and would replace the Chinese currency. The ABC asked several cryptocurrency and financial crime experts to analyse the trading platform Himalaya Exchange and HCoin. They concluded both raised red flags.
https://www.abc.net.au/news/2022-04-18/guo-wengui-steve-bannon-back-hcoin-cryptocurrency/100991522
Jeremiah Deakin asks to be jailed after pleading guilty to deceiving former sex client into paying him $718,000 – 19 April 2022
Jeremiah Deakin, admitted to defrauding a man he met online for sex and pretending to be a female spy. The victim paid $718,000 over two years, which Deakin used to fund his ice and gambling addictions.
Husband of Melissa Caddick stakes claim to a share of the millions she owned in property, luxury cars and jewellery – 19 April 2022
Melissa Caddick’s husband, Anthony Koletti is trying to claw back some of the millions in property, cars, jewellery and designer clothes owned by the Sydney fraudster. He submitted that his financial contribution to the household meant he was entitled to a share of the assets. Ms Caddick’s assets are being sold off to repay some of the $23 million, she stole from investors.
Big names (and an economist) in sacked Deloitte director’s haul – 20 April 2022
It took Deloitte less than a month to conclude its action against former director Paul Quill. He’s agreed to repay $3.1 million to the firm, hopefully from the proceeds of the artworks, furniture, fine watches and the like his old employer claims he purchased with fraudulent expense claims.
(Access to digital version of AFR required to read article.)
AUSTRAC works with businesses to target ransomware and criminal use of digital currencies – 22 April 2022
AUSTRAC has released two new financial crime guides to help businesses, stop ransomware attack payments and the criminal abuse of digital currencies. The guides contain practical information and indicators to help businesses identify and report if a payment could be related to ransomware attacks, or someone could be using digital currencies to commit serious crimes such as money laundering, scams, or terrorism financing
‘No apparent logical reason’ why former CSIRO executive Mark Wallis defrauded government of $300,000 – 22 April 2022
The ACT Supreme Court has heard there was no obvious explanation for why Mark Wallis, a former CSIRO executive spent more than $300,000 of government money on cars, a jet ski and a gym membership. Mark Wallis has pleaded guilty and will be sentenced later in the year.
https://www.abc.net.au/news/2022-04-22/act-former-csiro-executive-fraud-supreme-court/101006806
Former Gold Coast rich-list developer Craig Gore caught conducting business while in jail on fraud charges – 22 April 2022
Disgraced Gold Coast rich-lister Craig Gore, has been sprung by corrections officers, virtually meeting employees and taking a digital tour of a building connected to a business he was illegally running from jail. He pleaded guilty and was fined $1,500
