Our regulators hard at work
The year has started with some notable and commendable action from our regulators: ASIC and AFSA.
In the last month ASIC has issued press releases with some notable prosecutions including a director banning order, a conviction against a disqualified director and finally a record penalty in the sum of $18.9 million. See links below.
AFSA is appealing to the public for information relating to ‘fraud by individuals through the creation of fictitious creditors, false caveats and mortgages used in personal insolvency agreements and bankruptcy administrations from 2010 until 2013’. AFSA are working on this with the Australian Federal Police.
Our friends at ARITA are getting in on the action, with raising awareness through its extensive membership base. We like to do the same. Our Forensic partners do their best to raise awareness of the atrocious nature of fraud crimes in the hope it compels people to become vigilant with their money, and the people they entrust it with.