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Banking royal commission recommendations flounder, two years on – 4 February 2021
The final report of the Banking Royal Commission was released two years ago. It exposed a culture of rapacious greed, of profits and shareholders being put before customers and the law. Of its 76 recommendations, only about one-third have come into law
Charges laid over $1.1m sport club fraud – 3 February 2021
The financial officer of a southern NSW sports club has allegedly diverted more than $1.1 million from the club into offshore bank accounts, prompting fraud charges.
https://www.canberratimes.com.au/story/7110919/charges-laid-over-11m-sport-club-fraud/?cs=14264
BOQ tries to pin BEC blame on a branch manager – 3 February 2021
Bank of Queensland was found to have unfairly dismissed a branch manager who fell for a business email compromise (BEC)-like scam that cost the bank $30,000.
https://www.itnews.com.au/news/boq-tries-to-pin-bec-blame-on-a-branch-manager-560557
‘Porn King’ gives evidence in ex-employee’s $787k fraud case – 2 February 2021
Neva Lozzi is alleged to have transferred more than $140,000 into the bank account of her husband and into her young daughter’s bank account, disguised under another employee’s name. Her employer Con Ange, has denied he instructed her to do this to avoid paying tax. Mr Ange claims Ms Lozzi took advantage of his absence from the business while he was seeking treatment for motor neurone disease.
