fraud

Unintentional

In praise of the Dodd-Frank Act

Traditional anti-fraud measures can’t deal with systematic financial misconduct. Lawyer and superannuation executive David Galloway, writes in praise of the Dodd-Frank legislation. Confronted with systemic financial misconduct on an unprecedented scale during the GFC, US law makers paused to ask why it occurred and came to what seemed like startlingly obvious conclusions. Firstly, they reasoned […]
David GallowayDecember 1, 2014
CMSF

Super fraud on the rise

Payment interception by male internal staff in non-management positions represents the biggest risk of fraud for superannuation funds, KPMG’s biennial fraud survey has revealed. The profile was created from a survey of 281 financial services organisations who had detected $372.7m worth of fraud in the last two years. Three quarters of this fraud was committed […]
David RowleyMarch 21, 2013
Investment Strategy

Losses mount in Sydney’s letterbox ‘super scam’

The ‘super scammers’ thieving personal financial information from Sydney letterboxes have stripped millions from members’ balances, and the amount is rising, according to the NSW police unit investigating the crime.“We’re talking seven figures, and it’s increasing,” Andrew Gill, detective senior constable with Strike Force Gamut of the Harbourside Police, the unit investigating the criminal syndicate […]
Staff WriterJune 2, 2009
Investment Strategy

Losses mount in Sydney’s letterbox ‘super scam’

The ‘super scammers’ thieving personal financial information from Sydney letterboxes have stripped millions from members’ balances, and the amount is rising, according to the NSW police unit investigating the crime.“We’re talking seven figures, and it’s increasing,” Andrew Gill, detective senior constable with Strike Force Gamut of the Harbourside Police, the unit investigating the criminal syndicate […]
Staff WriterJune 2, 2009
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