Geraldton financial advisor Thomas ‘Graham’ Greenaway jailed for $2.9m Aboriginal trust theft after retrial – 19 July 2024
Thomas “Graham” Greenaway was found guilty of 33 stealing charges relating to taking $2.9 million from the Yugunga-Nya people’s trust while he was trustee. Greenaway was imprisoned, won an appeal in 2022, and in a retrial in May a jury again found him guilty. Greenaway was sentenced to a total of five years and nine months’ imprisonment, backdated to July 2023.
How criminals are exploiting digital technology like video games to launder money – 21 July 2024
New digital technologies have offered more sophisticated — and surprising — ways of making dirty money clean. Article details the three steps of money laundering which are placement, layering and integration.
https://www.abc.net.au/news/2024-07-21/digital-technology-and-money-laundering/104081836
Sydney man, 43, charged with allegedly trafficking 17-year-old girl from Indonesia to work in brothel in major AFP investigation – 23 July 2024
The Australian Federal Police (AFP) has charged a south Sydney man with trafficking a child from Indonesia to work in a brothel after seven potential victims were removed from sexual exploitation. AFP Commander Kate Ferry said human trafficking is an under reported crime, with issues such as distrust of authorities or language barriers hindering the reporting of it.
ASIC hits ASX pump-and-dump crew with criminal charges – 23 July 2024
The corporate watchdog has filed criminal charges against four alleged ring leaders of a penny-stock pump-and-dump scheme, run through the Telegram messaging app, during the pandemic lockdown market mania. Each faces fines of more than $1 million and up to 15 years in prison, if found guilty of conspiracy to commit market rigging and false trading, in a market co-ordinated manipulation scheme.
Banks Stole Money From Dead People. Why Weren’t They Put Into Administration? – 23 July 2024
Australia has one set of rules for white collar crime, and a whole other set of rules (and sanctions and penalties and public floggings) for blue collar crimes… particularly when a union is involved. Lawyer Alana Heffernan weighs in on the obvious hypocrisy.
ASIC launches investigation into cold callers offering superannuation reviews – 25 July 2024
ASIC has launched an investigation into cold callers offering superannuation reviews. Three people say they were sent on to a financial adviser and then pressured to switch funds. Advocates want ASIC to move quickly and have urged people to be careful before changing super funds without additional financial advice.
Australian National University underpaid casual staff $2 million over 11 years due to timesheet error – 25 July 2024
The Australian National University has self-reported to the Fair Work Ombudsman, an error that saw 2,290 former and current casual staff, miss payments totalling about $2 million during the past 11 years. The National Tertiary Education Union says with wage theft “rampant across higher education” the announcement was “disappointing but not surprising”.
Australia’s ANZ fires staff amid multiple dealing room investigation – 25 July 2024
Australian bank ANZ said it has fired or suspended traders from its markets business, over allegations of inappropriate behaviour and warned an investigation into the unit, may have consequences on staff all the way up to the CEO. Media reports have said the corporate regulator was investigating suspected misreporting of trades in government bonds by the bank’s staff.
https://finance.yahoo.com/news/anzs-prelim-analysis-bond-trading-232916622.html
Instagram and Facebook remove 63,000 sextortion accounts after shocking deaths – 25 July 2024
Instagram and Facebook’s parent company Meta says it has finally taken down about 63,000 Nigerian Instagram accounts running sextortion scams. According to research by cyber intelligence analyst Paul Raffile, a group of West African cybercriminals known as “Yahoo Boys” are largely responsible for the 18,000 per cent surge in sextortion targeting children that has caused at least 39 deaths in the past two years.
