November
Barristers seek exemption from tougher money-laundering laws
Bar associations are concerned draft AML/CTF legislation will force them to conduct due diligence on clients already conducted by instructing solicitors.
- Maxim Shanahan
October
Bill Papas ‘the architect’ of $500m bank fraud, court finds
He masterminded an audacious scam worth $500 million that funded a lavish lifestyle of yachts, sports cars and property before he fled Australia.
- Max Mason
Labor, Coalition clash over laws for lawyers, accountants, realtors
Shadow attorney-general Michaelia Cash roundly criticised plans to expand anti-money laundering laws to the three professions.
- Ronald Mizen
Juror misconduct probe flagged for Plutus tax fraud trial
Sheriffs will be asked to probe possible juror misconduct in the Plutus tax fraud trial, which ran for nine months and led to five people being jailed.
- Miklos Bolza
September
Luxury cars among Plutus Payroll tax fraud spoils up for grabs
A Porsche Cayenne GTS, a Porsche 911 GT3 and two Wolf GB08 Tornado racing cars are among 30 vehicles confiscated from instigators of the fraud that will be auctioned off.
- Ronald Mizen
- Exclusive
- Commercial real estate
Australian executive allegedly stole $2.7m from Singapore’s CapitaLand
The real estate giant has more than $9 billion in its local portfolio. It accused Yongho Lee of taking the money by faking documents and moving to South Korea.
- Campbell Kwan
Real estate agents face costs to meet new money laundering rules
Australia is at the bottom of a global compliance ranking to halt dirty money flows. Fixing that will raise costs for real estate agents.
- Michael Bleby
August
‘Obscenely greedy’ oil execs jailed over vast 1MDB fraud
A Swiss court found the former PetroSaudi executives responsible for embezzling $2.6 billion in what the court heard was the “fraud of the century”.
- Jamey Keaten
ASIC budget set to fall despite warnings on resourcing
The corporate regulator’s annual budget appropriation will be $6 million lower in 2027-28 compared with last financial year, but when adjusted by inflation the cut is much bigger.
- Ronald Mizen
Tax fraudster Li Zhang fights the ATO from jail
The irony of the convicted golf course developer now accusing the Tax Office of doing something untoward is so delicious, you could serve it up at a hatted restaurant.
- Max Mason
- Opinion
- Opinion
The case for splitting ASIC
Australia needs a dedicated financial industry conduct regulator, rather than a securities regulator that regulates everything.
- Andy Schmulow
July
- Analysis
- Regulation
Inside the push to break up ASIC
ASIC chairman Joe Longo says the corporate cop is finally turning a corner, but there are plenty of critics who think the only answer for ASIC is ‘radical change’.
- Ronald Mizen
- Exclusive
- Joseph Longo
We suspect ANZ broke the law in $14b bond sale: ASIC
Chairman Joe Longo, in a wide-ranging interview, also detailed initiatives to crack down on insider trading, interventions in the private credit market, and hit back at claims ASIC is a “toothless tiger”.
- Ronald Mizen and Jonathan Shapiro
ASIC hits ASX pump-and-dump crew with criminal charges
The corporate cop has hit the alleged ring leaders of an ASX penny stock pump and dump scheme with criminal charges that could come with millions in fines.
- Ronald Mizen, Maxim Shanahan, Jonathan Shapiro and Tom Richardson
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
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
