14 stories this week:
Facebook Marketplace scammer falsified bank transfers, Tasmania Police allege – 3 October 2022
Police allege that a Tasmanian man dishonestly obtained $200,000 worth of property from people who were attempting to sell items on Facebook Marketplace, after presenting a falsified bank transfer receipt.
Illegal phoenix activity – 5 October 2022
Illegal phoenix activity occurs when a new company continues the business of a liquidated company to avoid paying its debts by selling assets, creating dummy directors etc. Article explores what Illegal phoenix is, what you can do to avoid it, and how you can legally resurrect an insolvent or near-insolvent company.
Fraudster targeted Australian super accounts in $3 million scam – 5 October 2022
Vella-Arpaci pleaded guilty to two charges of conspiracy to defraud over separate superannuation and share trading frauds, and to conspiring to deal in proceeds of crime. Police found she held numerous passports, driver’s licences, debit cards and Medicare cards.
Those details were used to withdraw funds from accounts and arrange shares to be sold, with proceeds deposited in newly opened bank accounts and laundered through the purchase of diamonds.
Banks ‘cyber mature’ but remain top target for scammers – 5 October 2022
Criminals exploiting snippets of personal information to trick customers and employees into opening themselves and their firms to fraud remains the top way Australian financial services businesses are initially breached. These social engineering attacks were the main way hackers and scammers initially get into financial services companies, using it as a Trojan horse for phishing, fraud and false billing.
SMSF scam investigation sees call centre raided – 5 October 2022
A scam call centre in Manila set up to steal retirement funds by posing as an Australian company was raided by Cybercrime investigation company IFW Global and the Philippines National Police this month. The scam orchestrators aimed to gather critical information from victims by pretending to be Australian Securities Administration Limited (ASAL), a legitimate and licensed company.
https://www.accountantsdaily.com.au/regulation/17637-smsf-scam-investigation-sees-call-centre-raided
Richard spoke up about inappropriate behaviour at his work. Now he’s facing prison – 5 October 2022
Article is a good summary of how it all started for Richard Boyle and whats happening next. In 2017 Mr Boyle, made a public interest disclosure about maladministration at the Adelaide debt collection centre of the ATO. He was subsequently charged with 66 offences after having his house raided. The Public Interest Disclosure Act 2013 (PID) is supposed to protect Commonwealth employees who speak up on wrongdoing but these protections have never been tested in court. If the District Court or higher courts reject Mr Boyle’s claim for immunity, he will face a criminal trial in October 2023.
https://www.sbs.com.au/news/article/richard-boyle-whistleblower-case-explained/iqljz7577
Economist alleges corporate watchdog ASIC is only investigating tiny proportion of complaints – 6 October 2022
An economist alleges ASIC is doing fewer investigations compared to the number of complaints it is receiving. Alleging that fewer than 1 per cent of complaints are going on to be investigated. ASIC has responded saying that 35 per cent of complaints were referred for action, resolved or beyond its jurisdiction. A table is included with an extract of ASIC’s annual report that notes what percentage of complaints it investigates.
Banks get temporary access to Optus customer data to watch for fraud – 6 October 2022
Banks will have to comply with strict requirements to receive customer identification details from Optus to guard against fraud, including making written assurances to regulators, proving they can securely store information and pledging to destroy it when it is no longer required. New regulations unveiled by the Albanese government in response to the Optus cyberattack will allow telecommunications companies to temporarily share customers’ government identification details including driver’s licence, Medicare and passport numbers with banks. Names, addresses and birth dates will not be shared.
Customers lose as banks, telcos pass buck on scam – 6 October 2022
National Australia Bank says it is not responsible for refunding customers duped into transferring their money to criminals who impersonate the bank’s telephone number, but says the banks are now working more closely with telco operators to close gaps that allow these scams to occur.
One in 10 young people willing to become money mules in return for cash – 6 October 2022
In the last 12 months there has been a surge in Money Mule cases amongst older age groups, with a 26% increase in those aged 31 to 39, and a 29% increase in those aged over 40. If a person is caught moving stolen funds, money mules will be left with no bank account, a damaged credit score and the inability to apply for a loan or even a phone contract in the future. They could also end up with a 14-year prison sentence for the crime.
https://au.news.yahoo.com/young-people-become-money-mules-for-cash-230137276.html
NZ police need better training in privacy and human rights law – here is what should happem – 6 October 2022
The New Zealand Police were recently found to have been routinely and illegally photographing young people and adults in public. There are rules governing the collection of information, with protecting privacy a key requirement. A report revealed that the police did not follow relevant privacy rules.
https://au.news.yahoo.com/nz-police-better-training-privacy-190222868.html
Teenager arrested for alleged scam on Optus victims as government lets telco share data – 6 October 2022
Federal police have arrested a 19-year-old Sydney man for allegedly sending $2000 blackmail scam texts to 93 people whose data was separately published by the Optus hacker.
West Australian farmer scammed out of $16,000 after trying to purchase cattle on Facebook – 7 October 2022
Scammers are getting better at appearing as legitimate sellers. Police are warning of scammers purporting to sell livestock on Facebook. A farmer in Western Australia’s South West has lost $16,500.
https://www.abc.net.au/news/2022-10-07/wa-farmer-fraud-purchase-cattle-on-facebook/101508134
Sydney news: The King’s School under investigation over use of public money – 7 October 2022
The King’s School in NSW, is under investigation by the NSW Department of Education. There are allegations of possible misuse of taxpayers’ funds over building and other plans. The King’s School in Sydney reportedly planned to install a plunge pool at the headteacher’s residence and sent the school’s senior staff to attend a British rowing event.
https://www.abc.net.au/news/2022-10-07/nsw-am-briefing-october-7-2022/101509178
