Private equity put on notice over wage concerns
In the case of wage fraud scandals, investors have zero tolerance.
Adele Ferguson comments on companies, markets and the economy.
In the case of wage fraud scandals, investors have zero tolerance.
Shocking cases of wage fraud in the big brands of 7-Eleven, Domino's, Caltex and United Petroleum, ricochet across the country, prompting all sides of politics to promise new legislation to rein in systemic wage fraud.
Petrol giant United Petroleum has been blasted by the workplace regulator for rampant underpayment of workers across its franchise network after a series of raids.
It is little wonder employees, investors and consumers have hit zero tolerance on wage fraud issues.
The culture of 'don’t dob in a mate' strikes at the heart of our poor treatment of whistleblowers.
Extortion, blackmail, cash back scams and slavery are happening every day under our noses.
It's the dirty secret CommInsure and the rest of the life insurance industry has been protecting for years: the ability to sell dud policies that contain outdated medical definitions that no one will pay out on. They can do this – and they do – because it doesn't breach the law.
"Totally laughable" is the way Nick Bishop describes the findings of the ASIC report into CommInsure.
Pressure is building on the federal government to launch a royal commission into Australia's scandal-plagued banking system.
Come Thursday a royal commission or commission of inquiry into the scandal-ridden banking sector will become a live issue in Parliament.
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