News : fraud

ASIC cautions licensees on share fraud

June 24, 2025

ASIC, guidance, Australian financial services licensees, Information Sheet 237, INFO 237, share sale fraud, Simone Constant, due diligence

The corporate regulator is asking licensees to be vigilant, given share sale fraud has jumped sevenfold in recent years.

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ATO, fraud, Superannuation

ATO flags adviser role in illegal access

February 19, 2025

Jason Spits

The ATO’s estimate of funds being illegally accessed from SMSFs has fallen, but it has identified advice telling people how to hide this behaviour using loans to members.

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Education, fraud

Educate clients about scams

SMSF Association Peter Burgess Scams superannuation

August 29, 2024

Jason Spits

The SMSF Association has asked members to inform clients about the dangers of scams targeting their super and help them report schemes they come across.

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ATO, fraud, SMSF

Pursue illegally accessed monies

SMSF Self-managed superannuation Bobbin Lawyers Peter Bobbin Illegal drawdown

August 21, 2024

Darin Tyson-Chan

Trustees should try to recover any illegally accessed money from an SMSF to lessen the severity of compliance breach penalties they may face.

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ASIC, Compliance, fraud

Ex-adviser banned for SMSF fraud

May 28, 2024

Jason Spits

A former adviser convicted of fraud for using funds from his clients’ SMSF accounts has been permanently banned a year after he received a jail sentence for the crime.

Fraud raises compliance snags

October 9, 2023

Darin Tyson-Chan

The regulator’s stance regarding situations where benefits of a fund have been accessed via fraudulent activities remains a little unclear.

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Business News, fraud, Superannuation

Govt to set up scam prevention hub

May 17, 2023

Todd Wills

The government will set up a scam prevention centre to detect scams, share data and inform the public about new scams and fraudulent schemes.

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