ASIC news hub

Latest from ASIC

22
March
2021
| 15:11 Australia/Sydney
Unfair contract terms protections will apply to consumer and small business insurance contracts entered into or renewed from 5 April 2021, and to terms in existing contracts that are varied from 5 April 2021. ASIC has conducted a targeted review
16
March
2021
| 12:00 Australia/Sydney
ASIC warns first-time traders to be vigilant against misinformation on trading strategies and products. First-time traders should familiarise themselves with the basics before choosing investments. ASIC has no tolerance for breaches of
16
March
2021
| 10:34 Australia/Sydney
ASIC is alerting investors about a suspicious investment opportunity – Beurax Corporation Pty Ltd (ACN 643 681 654) and its website, beurax.com. The Beurax website promoted a trading platform and deposit plans and offered unrealistically high and
12
March
2021
| 14:27 Australia/Sydney
Reports of misconduct increased more than 200% compared to last year. New imposter bond investment scams have emerged. Visit ASIC Moneysmart to learn more about investment scams.
17
February
2021
| 16:00 Australia/Sydney
The Australian Government has introduced new laws to help combat illegal phoenix activity From 18 February 2021, a company director will not be able to backdate their resignation more than 28 days or resign if it means the company would be left
28
January
2021
| 14:57 Australia/Sydney
Scammers are sending fake, professional-looking prospectuses that offer unrealistically high returns. ASIC is aware of two such scam operations targeting investors in Australia and overseas. Investors can check ASIC’s Offer Notice Board to see
ACCC: payment redirection scams cost Australian businesses $14 millionopens in new window
Australian businesses reported over $14 million in losses to Scamwatch due to payment redirection scams last year, and average losses so far in 2021 are more than five times higher compared to average losses in the same period last year.
14
Apr
2021
www.scamwatch.gov.au
APRA's weekly data on the superannuation early-release scheme (issue 36)opens in new window
The Government’s Early Release Scheme commenced on 20 April 2020 and was closed to new applications after 31 December 2020. This final issue that APRA will produce in this format covers data submitted through to 31 January 2021 to allow additional time beyond the closing date for final applications to be provided to funds by the ATO and for funds to process applications and complete payments.
15
Feb
2021
www.apra.gov.au
Current COVID-19 (coronavirus) scamsopens in new window
The ACCC's Scamwatch has received over 4850 scam reports mentioning the coronavirus with over $5 820 000 in reported losses since the outbreak of COVID-19 (coronavirus). Common scams include phishing for personal information, online shopping, and superannuation scams.
05
Nov
2020
www.scamwatch.gov.au
APRA's weekly data on the superannuation early-release scheme (issue 23)opens in new window
Over the week to 27 September, superannuation funds made payments to 36,000 members, bringing the total number to 4.4 million since inception. The total value of payments during the week was $267 million, with $33.8 billion paid since inception. The average payment made over the period since inception is $7,671 overall and $8,384 when considering repeat applications only.
09
Oct
2020
www.apra.gov.au
Charity scams on the riseopens in new window
Figures from Scamwatch show that charity scam reports have increased significantly in 2020. Reported scams are up nearly 70% compared to the same period in 2019, driven by charity frauds linked to the bushfire crisis.
07
Sep
2020
www.acnc.gov.au