Yesterday
Westpac wins $15m fruit stand fraud case
Fresh Xpress created “entirely fictitious” accounts, which included fake invoices and overstated profits, a court has found.
- Lucas Baird
This Month
Law Council calls for anti-money laundering carve-outs
The Law Council of Australia says it supports “balanced” reforms, but will argue for significant carve-outs in relation to client legal privilege.
- Maxim Shanahan
Archegos founder Hwang found guilty over fund’s $53b collapse
The Archegos meltdown in 2021 sent shock waves across Wall Street and drew regulatory scrutiny on three continents.
- Jody Godoy
- Exclusive
- Luxury fashion
Why diamond studded Swiss watches and luxury handbags worry AUSTRAC
The financial crimes watchdog’s chief executive Brendan Thomas says luxury goods along with cash and real estate have received its highest risk rating.
- Ronald Mizen
No backward step cutting off money flow to criminals: Dreyfus
The strong words from the attorney-general will come hours after the international body tasked with co-ordinating global AML/CTF efforts slams Australia’s performance.
- Ronald Mizen
Labor plays down call to break up ASIC, talks up whistleblower rewards
The Australian Securities and Investments Commission was on Wednesday accused of being a “toothless tiger” in the final report of a 20-month Senate inquiry.
- Ronald Mizen
June
UK tech tycoon Lynch cleared of HP fraud charges in $16.5b deal
Entrepreneur Mike Lynch had been extradited to the United States to face a criminal trial over the sale to HP in 2011, ending a mammoth legal saga.
- Updated
- Rachel Graf
- Exclusive
- Joseph Longo
ASIC lawsuit reveals up to $2.8m axed from audit oversight
For the first time ASIC has candidly admitted the extent of changes that led to its annual report card on the big four accounting firms’ audit quality being scrapped.
- Ronald Mizen
May
Labor steps up fight to stop dirty money from buying homes
Proposed anti-money laundering rules will rope in real estate agents and lawyers, amid concerns Australia could become a destination for dirty cash.
- Campbell Kwan
April
White-collar crime goes unpoliced due to lack of funds: ASIC boss
“We would welcome additional funding and … there are matters we would like to run now we don’t,” ASIC chairman Joe Longo told a Senate committee.
- Ronald Mizen
Real estate tycoon sentenced to death in huge $19b fraud case
Truong My Lan started by selling perfume in a market but rose to become a billionaire real estate developer. Now she’s been sentenced to death in Vietnam’s biggest fraud case.
- Khanh Vu
NSW clubs ‘acutely aware’ of money laundering laws
Lobby group ClubsNSW said its members had recently met with the financial crime watchdog to ensure they were complying with anti-money laundering laws.
- Ronald Mizen
- Exclusive
- Organised crime
AUSTRAC targets clubs’ pokies in $70b money laundering crackdown
New CEO Brendan Thomas says “massive” clubs that rival Sydney’s Star casino and host three in four of the states pokies pose a “significant risk”.
- Ronald Mizen
March
Fallen crypto king Sam Bankman-Fried sentenced to 25 years in prison
“A lot of people feel really let down, and they were very let down, and I am sorry about that,” Bankman Fried told the court.
- Updated
- Matthew Cranston
Jan Cameron fined $8000 for misleading market over Bellamy’s stake
Once one of the wealthiest women in the country, the Kathmandu founder had been found guilty of hiding her big stake in the baby formula group.
- Max Mason
ACCC to target airlines as complaints flow
Bad service by the carriers will be an enforcement priority for the Australian Competition and Consumer Commission in 2024-25, which will begin with a lawsuit against Qantas in July.
- Ronald Mizen
February
‘Stick to your guns’: inside the fall of a Young Rich List waste king
An afternoon coffee and a desperate string of WhatsApp messages helped seal the fate of Daniel Tartak and deliver a $30 million fine to waste giant Bingo.
- Jemima Whyte and Max Mason
At least 150 ATO staff implicated in TikTok GST fraud
At least 150 Tax Office officials have been investigated over a far-reaching GST fraud, with some sacked and others facing criminal investigations.
- Tom McIlroy
- Exclusive
- Cryptocurrencies
Aussie crypto entrepreneur Sam Lee calls fraud charges ‘embarrassing’
The Australian has rejected allegations he was the promotor of a scheme that allegedly defrauded investors out of $US1.89 billion.
- Jessica Sier
January
Corporations laws a ‘tangled mess’ costing business too much: report
Treasurer Jim Chalmers is being pressed to reform corporate laws after the Australian Law Reform Commission found they are overly long and complex.
- Ronald Mizen
