Signing a contract of their own “free will” is evidence that foreclosed bank borrowers are victims of their own incompetence.
Nearly 200 victims of poor financial advice are owed $16.6 million – and they may never see a cent of it.
In the second of his three part series, Dr Evan Jones exposes the immense harm banks do to ordinary Australians through their consistent corruption.
The Commonwealth Bank has attempted to block a last ditch legal appeal by victims of an alleged $100 million fraud, despite the alleged architects of the scam being ordered to stand trial and allegations that CBA staff were involved.
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Industry heavyweights respond to UK’s crypto asset regulatory framework proposal
'You can't keep blaming this on an organisation where customers don't take their own duty of care as well,' Ross McEwan says
Identity theft protection services promise to have your back against cybercriminals looking to steal your data. But they don't actually stop them from taking your identity. Are they worth it, then? We say no.
Nigerian national, Uche Victor Diuno, has pleaded guilty to a multimillion-dollar advance fee fraud scheme targeting victims in over 20 countries.
The United States Department of Justice has indicted 11 Nigerians for conspiracy to commit money laundering, conspiracy to commit bank fraud, and aggravated identity theft, in connection with their involvement in laundering millions of dollars in proceeds derived from business email compromises and romance fraud schemes. As a result of these frauds, law enforcement officers
The rate-rigging scandal is a key test of our system.
By Paul Egan & Philip Soos – Co-Author’s ‘Bubble Economics: Australian Land Speculation 1830 – 2013’ Exuberant household credit growth over the last twenty years has a sinister dimension: the likelihood of widespread predatory lending and bank fraud. Every developed country, including Australia, has laws to regulate and hopefully prevent predatory lending, defined as providing credit
Claire Bernish October 22, 2015 (ANTIMEDIA) Iceland — You could ice skate in Hell sooner than see the United States follow in Iceland’s footsteps with this move: the 26th banker was just sentenced to prison for a combined 74
The code will give people better protection against so-called authorised push payment scams, where people are tricked into transferring an estimated £350million a year
A banned former Westpac Bank Finance Manager will appear before Southport Magistrate Court next month to face fraud charges.
BOSTON – A Swampscott financial advisor pleaded guilty yesterday in federal court in Boston to defrauding an elderly victim and her bank by stealing the victim’s retirement assets. Felix Gorovodsky,…
Suncorp has claimed that it was not bound to allow a Victorian woman to an interest free loan indefinitely despite a finding that she is not liable to pay
In one of the biggest cases of its kind, seven executives from the Kaupþing bank have been handed prison sentences for market manipulation today. According to The icelandmonitor: "By fully financing share purchases with no other surety than
Banks will have to abide by their industry code of conduct or risk losing court cases.
The government turned an unprecedented crime ring of systemic fraud into a piggy bank, without distributing its profits to the homeowner victims.
In the field of data analysis, prescriptive analytics is a relatively new approach. Using data mining, machine learning, and artificial intelligence, prescriptive analytics identifies patterns in data that can be used to improve everything from marketing strategies to customer relationships. It can even provide recommendations on how to prevent or mitigate fraud. Keep reading to
As Labor, the Greens and even One Nation back a royal commission into the banking system, Malcolm Turnbull would do well to take a stand.
Prime Minister Malcolm Turnbull is under intense pressure to order a banking inquiry, with members of his own party looking likely rebel if he does not.
Report also favours backdating reimbursals and a pause before money is paid to new recipients
Opinion polls found the two party-preferred had tightened to 51:49 in Labor’s favour, but there was little or no mention made of the poll’s other finding.
The National Australia Bank claim to be the bank of small business — but they are anything but, explains Australia's leading exposer of bad banks, Associate Professor Evan Jones.
Alan talks to the president of the Banking and Finance Consumers Support Association about bank…
Labor Senator Sam Dastyari says ASIC’s findings from an investigation into the rigging of the bank bill swap rate will be “explosive” for Australia’s major lenders. Speaking in Sydney on Mond
Section 912A of the Corporations Act states that a financial services licensee, such as a bank, must “do all things necessary to ensure that the financial services covered by the licence are provided efficiently, honestly and fairly.” Manipulating markets is very difficult to do alone. It requires more than one set of bankers or brokers…
Quizzically, PNB, a victim of the world’s biggest bank fraud ever, is out of RBI’s first prompt corrective action (PCA) list. The biggest global bank fraudster, Nirav Modi, who is also facing the trial of the US Department of Justice, is still out of the reach of Indian authorities. The question is: will PCA truly
Senators have vowed to grill the corporate watchdog over its failure to stop a key figure in an alleged $110 million loan fraud from fleeing the country, despite notifying the suspect he was under investigation.
SEC charges Bittrex with unregistered operations, calls six tokens securities
The Department for Work and Pensions says the minister was wrong to say victims would not have to pay.
Binance launches anti-scam campaign after Hong Kong pilot run
Iceland’s economy was among those hit hardest by the 2008 financial crash, leading to unusually strict treatment of the bankers responsible. , Bank of America, bankers, Citigroup, financial collapse, Iceland, JPMorgan Chase,
My husband and I are pensioners, about to lose our home because greed, fraud and heartlessness at Westpac has thrown our life into financial chaos. Five years ago we were close to owning our home, having worked our whole lives to pay it off, when we were spruiked by a property investor who convinced us to invest for our retirement. We were talked into a financial strategy fraught with risk and yet
"You have been negotiating all my life!" This powerful cry from a 21 year-old female Dutch activist set a precedent for the way citizens deal with the false promises, corruption and greed of their political leaders.
Perpetual CEO says the financial services sector, the largest contributor to GDP, needs support - not inquiries.
How many of us can turn our backs on the modern financial system? It may be huge and cumbersome and impersonal, but we rely on it. And we can't seem to avoid its biggest players.
