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Property tycoon sentenced to death over $27 billion fraud

<p>A Vietnamese billionaire was sentenced to death on Thursday in one of the biggest corruption cases in history, an estimated $27 billion in damages - a figure equivalent to six percent of the country’s 2023 GDP. </p> <p>Truong My Lan, chair of major developer Van Thinh Phat, was found guilty of embezzlement, after looting from one of the country's biggest banks, Saigon Commercial Bank (SCB) for over a decade. </p> <p>“The defendant’s actions... eroded people’s trust in the leadership of the (Communist) Party and state,” the verdict read at the trial in Ho Chi Minh City. </p> <p>After a five-week trial, 85 others were also charged for their involvement in the fraud, with charges ranging from from bribery and abuse of power to appropriation and violations of banking law. </p> <p>Four were given life imprisonment, while others received jail terms ranging between 20 years and three years suspended. Lan's husband was Hong Kong billionaire Eric Chu Nap Kee, was sentenced to nine years in prison.</p> <p>Lan and the others were arrested as part of a national corruption crackdown.</p> <p>Lan was initially believed to have embezzled $12.5 billion, but on Thursday prosecutors have said that the total damages caused by the fraud now amounted to $27 billion. </p> <p>The property tycoon was convicted of taking out $44bn in loans from the bank, according to the <em>BBC</em>, with prosecutors saying that $27 billion of this may never be recovered. </p> <p>The court ordered Lan to to pay almost the entire damages sum in compensation. </p> <p>It is also <a href="https://www.bbc.com/news/world-asia-68778636" target="_blank" rel="noopener">reported</a> that she is one of very few women in Vietnam to be sentenced to death for a white collar crime. </p> <p>“In my desperation, I thought of death,” Lan said in her final remarks to the court, according to state media. </p> <p>“I am so angry that I was stupid enough to get involved in this very fierce business environment -- the banking sector -- which I have little knowledge of.”</p> <p>Police have identified around 42,000 victims of the scam, and many of them were unhappy with the verdict. </p> <p>One 67-year-old Hanoi resident told the AFP that she had hoped Lan would receive a life sentence so she could fully witness the devastating impact of her actions. </p> <p>“Many people worked hard to deposit money into the bank, but now she’s received the death sentence and that’s it for her,” they said. </p> <p>“She can’t see the suffering of the people.”</p> <p>The resident has so far been unable to retrieve the $120,000 she invested with SCB. </p> <p>Police have said that many of the victims are SCB bondholders, who cannot withdraw their money and have not received interest or principal payments since Lan’s arrest. </p> <p>Authorities have also reportedly seized over 1000 properties belonging to Lan. </p> <p><em>Image: Twitter</em></p> <p> </p>

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Sunrise rocked by allegation of "fraud"

<p><em>Sunrise</em> and the Seven Network have been rocked by an investigation by their biggest competitor, who exposed both allegations of "fraud", as well as threatening emails to a young journalist at Nine who was chasing the story. </p> <p>The scandal began when a reporter for the <em><a href="https://www.smh.com.au/national/new-seven-expenses-affair-rocks-sunrise-top-network-executives-20240408-p5fi6w.html" target="_blank" rel="noopener">Sydney Morning Herald</a></em> was alerted to an investigation being conducted by an independent law firm into the Sunrise program. </p> <p>According to reports by Nine, the law firm began an investigation, which was also conducted by a financial and corporate auditor, into reports that Sunrise staff members had grossly misused travel benefits. </p> <p>The allegations claimed that a small number of Sunrise staffers, as well as some of their friends and family, had taken flights and stayed in hotels on trips not related to their work duties, using benefits provided to the network by Qantas as part of a multimillion-dollar advertising and sponsorship deal.</p> <p>When business reporter for the<em> Australian Financial Review</em> Zoe Samios, a publication owned by Nine, reached out to Seven’s long-time commercial director Bruce McWilliam to chase the story, she was allegedly met with threatening emails saying her probes into the allegations had caused Seven’s star executive producer Michael Pell to self-harm.</p> <p>“This is what your unfounded reports have caused Michael to do,” Mr McWilliam wrote to Ms Samios in October last year.</p> <p>Attached to the email was a graphic image of him, bloodied and in a hospital gown, with a noticeable head wound.</p> <p>“Why don’t you keep it up so he kills himself. You are a complete disgrace. That law firm you name didn’t conduct any investigation. If you publish untrue allegations … and he tops himself. It’s on you. We are determined to protect him,” the email read.</p> <p>Speaking exclusively to <em><a href="https://www.news.com.au/finance/business/media/sunrise-rocked-by-fraud-investigations-that-top-tv-exec-tried-to-keep-secret/news-story/4b755d82167f825140c63b6e07107745" target="_blank" rel="noopener">news.com.au</a></em> on Thursday as the investigations were made public for the first time, Mr McWilliam defended the email and said he was defending a colleague and “friend” against “false allegations”.</p> <p>However, several months before the email, Mr Pell had stepped down as the boss of Sunrise and was appointed Seven's Senior Vice President of Entertainment Content in North America, and he moved to Los Angeles shortly after.</p> <p>On Thursday, Mr McWilliam told <em>news.com.au</em> that he became incensed when Mr Pell’s name was linked to the investigation, prompting his fiery email to Samios.</p> <p>“The accusations against Michael were exaggerated,” he told <em>news.com.au</em>.</p> <p>“I make no excuse for having acted to protect a colleague, against whom false allegations were being made. Michael Pell has been a friend of mine for many years.”</p> <p>The newspaper subsequently agreed to kill the story over concerns for Mr Pell’s mental health and wellbeing.</p> <p>While the findings of the alleged expenses investigation were delivered to Seven and described as "serious", a source close to the investigation insists that while the accusations are significant, they do not constitute "fraud" in the legal sense. </p> <p>Despite that, it’s understood that a small number of staff left the network following the findings being delivered to Seven, with the staffers signing nondisclosure agreements upon their departure.</p> <p>The scandal's reemergence comes 18 moths after the initial allegations, as Seven finds itself in another controversy over its flagship current affairs program <em>Spotlight</em> and its handling of an exclusive interview with Bruce Lehrmann.</p> <p><em>Image credits: Sunrise</em></p>

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"How could he do it to me?": Grandmother broken over grandson's alleged fraud

<p>In a courtroom in Perth, emotions ran high as a heartbroken grandmother awaited a reunion with her grandson, Jack Endersby. But this wasn't a typical family gathering. It was a courtroom confrontation, where Lyn Newby hoped her grandson would look her in the eye and confront the pain he allegedly caused by defrauding her of more than $320,000.</p> <p>Endersby, a 24-year-old <a href="https://www.9news.com.au/national/perth-news-grandmother-lost-320000-after-investing-in-grandson-business-alleged-ponzi-scheme/e3ea6396-750c-452c-8e87-c0ef53d65ede" target="_blank" rel="noopener">accused of orchestrating a Ponzi-style scheme</a> that allegedly swindled around $2 million from victims across Australia, faced the scrutiny of the law and the anguish of his own family. The accusations against him span from February 2021 to February 2024, a period during which he allegedly promised lucrative returns to investors, only to leave them empty-handed and disillusioned.</p> <p>For Newby, the betrayal cut deep. She had entrusted her grandson with a substantial sum, believing it to be an investment in his trading business, Codex Investments. His promises of monthly returns seemed enticing, but when the payments abruptly ceased, Newby's world shattered.</p> <p>"He has ruined our lives," she lamented. "How could he do it to me? I'm his grandmother." </p> <p>Endersby's arrest earlier this month marked a turning point in the unravelling of his alleged scheme. Facing 11 charges of fraud, he appeared in Perth Magistrates Court, where his family, including his mother, sought answers and reconciliation. However, Endersby remained aloof, ignoring their attempts at communication.</p> <p>In the lead-up to his court appearance, Newby expressed her desire for her grandson to acknowledge the pain he caused. "He will feel terrible when he sees me, and I want him to look me in the eye and know how much he's hurt me," she said, her anguish palpable.</p> <p>The allegations against Endersby paint a stark contrast to his earlier life. Once a telesales consultant and labourer, he purportedly transformed into a "self-taught investor" with a multimillion-dollar portfolio and a lifestyle of luxury. Flashy holidays, upscale accommodations and a Maserati adorned his newfound prosperity, allegedly funded by the deceitful machinations of a Ponzi scheme.</p> <p>As the details of Endersby's alleged deception emerged, more victims came forward, each recounting their own stories of financial loss and shattered trust. Michael Dawson, who invested in Endersby's business 18 months prior, described initial returns followed by a troubling silence. Others spoke of referral schemes that seemingly built trust but ultimately ensnared unsuspecting investors in a web of deceit.</p> <p>Amid the courtroom drama and legal proceedings, questions linger about the true extent of Endersby's alleged scheme and the lives it impacted. As he awaits his next court appearance on April 19, the echoes of broken trust and shattered dreams serve as a stark reminder of the devastating consequences of financial fraud.</p> <p><em>Images: Nine News</em></p>

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Tax boost announced for 1.2 million people

<p>Low-income earners will receive a tax boost with the Medicare levy threshold set to rise. </p> <p>The income threshold at which taxpayers will have to pay a two per cent Medicare levy will increase by 7.1 per cent, in line with inflation. </p> <p>Currently single people who earn below $24,276 do not have to pay the levy. Under the changes, the two per cent levy only has to be paid by anyone earning over <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">$26,000</span></p> <p>The <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">Medicare levy </span><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">threshold for seniors and pensioners will increase to $41,089, up from the initial benchmark of $38,365. </span></p> <p>For families, this threshold has increased to $43,486 up from the previous $40,939. </p> <p>Treasurer Jim Chalmers said that the increase was part of the broader measures taken to relieve the increase in cost-of-living. </p> <p>“This will ensure people on lower incomes continue to pay less or are exempt from the Medicare levy,”  he said on Tuesday. </p> <p>“It means 1.2 million Australians get to keep a bit more of what they earn.”</p> <p>The boost in the Medicare levy threshold was announced alongside changes to income tax cuts, with those earning under $150,000 set to receive greater benefits. </p> <p>“This is about doing what we responsibly can to ease some of the pressure being felt by Australians right around the country, but especially for people on lower incomes, young people, seniors and women,” Chalmers said.</p> <p>This comes just days after Medicare celebrated it's 40th anniversary, with an exhibition launched at Parliament House.</p> <p><em>Image: Getty</em></p>

Money & Banking

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“This is their money”: Aussies to receive cash boost in days

<p>The Australian government appears to be on a mission to play Santa, as it attempts to return a whopping $234 million in unclaimed Medicare benefits to one million of its hard-working citizens. Move over, jolly old Saint Nick; it's time for Bill "Santa" Shorten to shine.</p> <p>It turns out that Australians have been missing out on an average of $240 each in Medicare rebates, akin to losing a crisp, green note between the couch cushions – but on a national scale.</p> <p>Apparently, the government has been holding onto this financial treasure trove because some Aussies forgot to update their bank details with Medicare. Who knew that keeping your bank info up-to-date could be more rewarding than finding a forgotten $20 in last winter's coat?</p> <p>Government Services Minister Bill Shorten is riding the sleigh of generosity, announcing that, "We know Australians are doing it tough, and I want to reunite people with millions in unpaid Medicare benefits before the holidays." </p> <p>In the grand spirit of giving, Shorten has a plan. Australians can reclaim their lost loot within three days by undertaking the Herculean task of updating their bank account details on the myGov website. It's like a high-stakes version of changing your password but with a much more tangible reward – immediate funds in time for holiday shopping sprees.</p> <p>According to Shorten, the age group with the most to gain from this unexpected Christmas bonus is 18 to 24-year-olds, collectively owed a jaw-dropping $49 million. It seems like Santa Shorten is making a list and checking it twice, ensuring even the Millennials and Gen Zs get their fair share of financial cheer.</p> <p>While nearly 700,000 lucky Aussies are set to receive a notification about their long-lost financial windfall, there's a Grinchy catch: 300,000 individuals without a myGov account may remain out of reach. It's a modern-day Christmas tragedy – the equivalent of getting coal in your stocking because you forgot to sign up for the "nice" list.</p> <p>Opposition spokesman Paul Fletcher is urging Australians to create a myGov account, stating, "Two minutes on the app, three days later money in your account, good news for Christmas." It's like a financial magic trick - poof, and the money appears!</p> <p>In the midst of this Yuletide monetary magic, opposition spokesman Paul Fletcher throws some shade, claiming the coalition exposed these unclaimed benefits figures in October. "Families are struggling with cost-of-living pressures, and this is their money, not the government's," he declared, sounding like a fiscal superhero fighting for the rights of the underpaid and overtaxed.</p> <p>So, as Aussies rush to create myGov accounts and update their banking details, it's beginning to feel a lot like Christmas. Santa Shorten and his merry band of government officials are on a mission to spread holiday cheer, one direct deposit at a time.</p> <p>Who needs mistletoe when you can kiss your financial worries goodbye, thanks to the jingling sound of unclaimed Medicare benefits? It's the season of giving, after all, and in Australia, Santa Shorten is coming to town.</p> <p><em>Image: Getty</em></p>

Money & Banking

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How risky is it to give card details over the phone and how do I reduce the chance of fraud?

<p><em><a href="https://theconversation.com/profiles/paul-haskell-dowland-382903">Paul Haskell-Dowland</a>, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> and <a href="https://theconversation.com/profiles/ismini-vasileiou-1031778">Ismini Vasileiou</a>, <a href="https://theconversation.com/institutions/de-montfort-university-1254">De Montfort University</a></em></p> <p>Paying for things digitally is so common, most of us think nothing of swiping or tapping our card, or using mobile payments. While doing so is second nature, we may be more reluctant to provide card details over the phone.</p> <p>Merchants are allowed to ask us for credit card details over the phone – this is perfectly legal. But there are minimum standards they must comply with and safeguards to protect consumer data.</p> <p>So is giving your card details over the phone any more risky than other transactions and how can you minimise the risks?</p> <h2>How is my card data protected?</h2> <p>For a merchant to process card transactions, they are expected to comply with the <a href="https://docs-prv.pcisecuritystandards.org/PCI%20DSS/Standard/PCI-DSS-v4_0.pdf">Payment Card Industry Data Security Standard</a>. This is a set of security requirements designed to protect cardholder data and the trillions of dollars of transactions each year.</p> <p>Compliance involves various security measures (such as encryption and access controls) together with strong governance and regular security assessments.</p> <p>If the information stored by the merchant is accessed by an unauthorised party, encryption ensures it is not readable. That means stealing the data would not let the criminals use the card details. Meanwhile, access controls ensure only authorised individuals have access to cardholder data.</p> <p>Though all companies processing cards are expected to meet the compliance standards, only those processing large volumes are subject to mandatory regular audits. Should a subsequent data leak or misuse occur that can be attributed to a compliance failure, a <a href="https://www.csoonline.com/article/569591/pci-dss-explained-requirements-fines-and-steps-to-compliance.html">company can be penalised</a> at levels that can escalate into millions of dollars.</p> <p>These requirements apply to all card transactions, whether in person, online or over the phone. Phone transactions are likely to involve a human collecting the card details and either entering them into computer systems, or processing the payment through paper forms. The payment card Security Standards Council has <a href="https://docs-prv.pcisecuritystandards.org/Guidance%20Document/Telephone-Based%20Payments/Protecting_Telephone_Based_Payment_Card_Data_v3-0_nov_2018.pdf">detailed guides for best practice</a>:</p> <blockquote> <p>A policy should be in place to ensure that payment card data is protected against unauthorised viewing, copying, or scanning, in particular on desks.</p> </blockquote> <p>Although these measures can help to protect your card data, there are still risks in case the details are misplaced or the person on the phone aren’t who they say they are.</p> <h2>Basic tips for safe credit card use over the phone</h2> <p>If you provide card details over the phone, there are steps you can take to minimise the chance you’ll become the victim of fraud, or get your details leaked.</p> <p><strong>1. Verify the caller</strong></p> <p>If you didn’t initiate the call, hang up and call the company directly using details you’ve verified yourself. Scammers will often masquerade as a well-known company (for example, an online retailer or a courier) and convince you a payment failed or payment is needed to release a delivery.</p> <p>Before you provide any information, confirm the caller is legitimate and the purpose of the call is genuine.</p> <p><strong>2. Be sceptical</strong></p> <p>If you are being offered a deal that’s too good to be true, have concerns about the person you’re dealing with, or just feel something is not quite right, hang up. You can always call them back later if the caller turns out to be legitimate.</p> <p><strong>3. Use secure payment methods</strong></p> <p>If you’ve previously paid the company with other (more secure) methods, ask to use that same method.</p> <p><strong>4. Keep records</strong></p> <p>Make sure you record details of the company, the representative you are speaking to and the amount being charged. You should also ask for an order or transaction reference. Don’t forget to ask for the receipt to be sent to you.</p> <p>Check the transaction against your card matches the receipt – use your banking app, don’t wait for the statement to come through.</p> <h2>Virtual credit cards</h2> <p>In addition to the safeguards mentioned above, a <a href="https://www.forbes.com/advisor/credit-cards/virtual-credit-card-numbers-guide/">virtual credit card</a> can help reduce the risk of card fraud.</p> <p>You probably already have a form of virtual card if you’ve added a credit card to your phone for mobile payments. Depending on the financial institution, you can create a new credit card number linked to your physical card.</p> <p>Some banks extend this functionality to allow you to generate unique card numbers and/or CVV numbers (the three digits at the back of your card). With this approach you can easily separate transactions and cancel a virtual card/number if you have any concerns.</p> <h2>What to do if you think your card details have been compromised or stolen?</h2> <p>It’s important not to panic, but quick action is essential:</p> <ul> <li> <p>call your bank and get the card blocked so you won’t lose any more money. Depending on your situation, you can also block/cancel the card through your banking app or website</p> </li> <li> <p>report the issue to the police or other relevant body</p> </li> <li> <p>monitor your account(s) for any unusual transactions</p> </li> <li> <p>explore card settings in your banking app or website – many providers allow you to limit transactions based on value, restrict transaction types or enable alerts</p> </li> <li> <p>you may want to consider registering for <a href="https://theconversation.com/your-credit-report-is-a-key-part-of-your-privacy-heres-how-to-find-and-check-it-116999">credit monitoring services</a> and to enable fraud alerts.</p> </li> </ul> <h2>So, should I give my card details over the phone?</h2> <p>If you want to minimise risk, it’s best to avoid giving card details over the phone if you can. Providing your card details via a website still has risks, but at least it removes the human element.</p> <p>The best solution currently available is to use virtual cards – if anything goes wrong you can cancel just that unique card identity, rather than your entire card.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/216833/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/paul-haskell-dowland-382903">Paul Haskell-Dowland</a>, Professor of Cyber Security Practice, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> and <a href="https://theconversation.com/profiles/ismini-vasileiou-1031778">Ismini Vasileiou</a>, Associate Professor, <a href="https://theconversation.com/institutions/de-montfort-university-1254">De Montfort University</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from </em><a style="font-style: italic;" href="https://theconversation.com">The Conversation</a><em> under a Creative Commons license. Read the </em><a style="font-style: italic;" href="https://theconversation.com/how-risky-is-it-to-give-card-details-over-the-phone-and-how-do-i-reduce-the-chance-of-fraud-216833">original article</a><em>.</em></p>

Money & Banking

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Everything you need to know about major Medicare shake-up

<p>Medicare is undergoing its biggest shake-up in decades, making it easier for more than 12 million Aussies to visit their GP. </p> <p>Thanks to the sweeping reforms that came into effect on Wednesday, Aussies can now get cheaper visits to GPs and increased access to telehealth services. </p> <p>It is estimated that 12 millions Australians, or three in every five patients, will find it easier to see a bulk-billing GP after incentive payments for the practice tripled in a major boost.</p> <p>General practitioners who bulk-bill concession card holders, pensioners and patients aged under the age of 16 will now receive a $20.65 bonus if they are in a metropolitan area, while the incentive has risen to $39.65 for GPs in regional areas.</p> <p>The previous rates were $6.85 and $13.15 respectively.</p> <p>The tripling of the bulk-billing incentive payment applies to all face-to-face and telehealth GP consultations of up to 20 minutes. </p> <p>The plan was hailed as a "game changer" by the Albanese government, as Health Minister Mark Butler said, "Today is the biggest investment in Medicare for decades."</p> <p>Prime Minister Anthony Albanese added, "Medicare is at the centre of our health system [and] the primary healthcare that GPs deliver makes an enormous difference to people."</p> <p>"[This] happens to be good for the taxpayer as well because... a slight condition dealt with early [and] treated properly ensures it doesn't become an acute condition."</p> <p>Medical and GP advocates welcomed the reforms, saying it will make a big difference to millions of Aussies facing cost-of-living pressures.</p> <p>"But we know more work can be done," Australian Medical Association president Steve Robson said.</p> <p>"We will continue working with the government on developing new programs and initiatives that strengthen primary care and ensure GP-led care is affordable and accessible for all patients."</p> <p><em>Image credits: Shutterstock</em></p>

Caring

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"Ignore, delete and report": Cruel Medicare scam on the rise

<p>The Australian Competition and Consumer Commission’s Scamwatch has warned Aussies against a suspicious Medicare email going around claiming that their services have been suspended. </p> <p>The email states that Medicare services have been suspended because of incomplete customer medical records and contains a link for them to update their medical records to access the service. </p> <p>“Fake emails impersonating Medicare are doing the rounds claiming Medicare services have been suspended," a spokesperson for the consumer watchdog wrote in a tweet.</p> <p>“Ignore the email and the instruction to reactivate your Medicare services — it’s a scam.”</p> <p>"Ignore, delete, and report to Scamwatch." </p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/scamalert?src=hash&ref_src=twsrc%5Etfw">#scamalert</a>: Fake emails impersonating Medicare are doing the rounds claiming Medicare services have been suspended. <br />Ignore the email and the instruction to reactivate your Medicare services - it's a scam. <br />Ignore, delete, and report to Scamwatch <a href="https://t.co/qPicjZTOSW">https://t.co/qPicjZTOSW</a> <a href="https://t.co/8UhY7JnlFk">pic.twitter.com/8UhY7JnlFk</a></p> <p>— NASC Scamwatch (@Scamwatch_gov) <a href="https://twitter.com/Scamwatch_gov/status/1689849418793566208?ref_src=twsrc%5Etfw">August 11, 2023</a></p></blockquote> <p>Services Australia also advised customers to beware of emails and texts that sound urgent, make promises of financial benefit, and threaten with fines, debts or jail. </p> <p>“If you’ve clicked on a suspicious link or given your personal information to a scammer, call our <a href="https://www.servicesaustralia.gov.au/phone-us?context=64107" target="_blank" rel="noopener">Scams and Identity Theft Helpdesk</a>,” the website states. </p> <p><em>Image: Getty</em></p>

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The $500 million ATO fraud highlights flaws in the myGov ID system. Here’s how to keep your data safe

<p><em><a href="https://theconversation.com/profiles/rob-nicholls-91073">Rob Nicholls</a>, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a></em></p> <p>The Australian Tax Office (ATO) paid out more than half a billion dollars to cyber criminals between July 2021 and February 2023, according to an <a href="https://www.abc.net.au/news/2023-07-26/ato-reveals-cost-of-mygov-tax-identity-crime-fraud/102632572">ABC report</a>.</p> <p>Most of the payments were for small amounts (less than A$5,000) and were not flagged by the ATO’s own monitoring systems.</p> <p>The fraudsters exploited a weakness in the identification system used by the myGov online portal to redirect other people’s tax refunds to their own bank accounts.</p> <p>The good news is there’s plenty the federal government can do to crack down on this kind of fraud – and that you can do to keep your own payments secure.</p> <h2>How these scams work</h2> <p>Setting up a myGov account or a myGov ID requires proof of identity in the form of “<a href="https://www.afp.gov.au/sites/default/files/PDF/NPC-100PointChecklist-18042019.pdf">100 points of ID</a>”. It usually means either a passport and a driver’s licence or a driver’s licence, a Medicare card, and a bank statement.</p> <p>Once a myGov account is created, linking it to your tax records requires two of the following: an ATO assessment, bank account details, a payslip, a Centrelink payment, or a super account.</p> <p>These documents were precisely the ones targeted in three large data breaches in the past year: at <a href="https://theconversation.com/what-does-the-optus-data-breach-mean-for-you-and-how-can-you-protect-yourself-a-step-by-step-guide-191332">Optus</a>, at <a href="https://theconversation.com/medibank-hackers-are-now-releasing-stolen-data-on-the-dark-web-if-youre-affected-heres-what-you-need-to-know-194340">Medibank</a>, and at <a href="https://asic.gov.au/about-asic/news-centre/news-items/guidance-for-consumers-impacted-by-the-latitude-financial-services-data-breach/">Latitude Financial</a>.</p> <p>In this scam, the cyber criminal creates a fake myGov account using the stolen documents. If they can also get enough information to link to the ATO or your Tax File Number, they can then change bank account details to have your tax rebate paid to their account.</p> <p>It is a sadly simple scam.</p> <h2>How government can improve</h2> <p>One of the issues here is quite astounding. The ATO knows where salaries are paid, via the “<a href="https://www.ato.gov.au/business/single-touch-payroll/what-is-stp-/">single touch</a>” payroll system. This ensures salaries, tax and superannuation contributions are all paid at once.</p> <p>Most people who have received a tax refund will have provided bank account details where that payment can be made. Indeed, many people use precisely those bank account details to identify themselves to myGov.</p> <p>At present, those bank details can be changed within myGov without any further ado. If the ATO simply checked with the individual via another channel when bank account details are changed, this fraud could be prevented. It might be sensible to check with the individual’s employer as well.</p> <p>Part of the problem is the ATO has not been very transparent about the risks. If these risks were clearly set out, then calls for changes to ATO procedures would have been loud and clear from the cyber security community.</p> <p>The ATO is usually good at identifying when a cyber security incident may lead to fraud. For example, when the recruitment software company <a href="https://www.abc.net.au/news/2018-06-06/australian-data-may-be-compromised-in-pageup-security-breach/9840048?itm_campaign=newsapp">PageUp was hacked in 2018</a>, the ATO required people who may have been affected to reconfirm their identities. This was done without public commentary and represents sound practice.</p> <p>Sadly, the millions of records stolen in the Optus, Medibank and Latitude Financial breaches have not led to a similar level of vigilance.</p> <p>Another action the ATO could take would be to check when a single set of bank account details is associated with more than one myGov account.</p> <p>A national digital identity would also help. However, this system has been in development for years, is not universally popular, and may well be <a href="https://www.themandarin.com.au/226280-gallagher-warns-community-support-for-digital-identity-not-ubiquitous/">delayed</a> until after the federal election due in 2024.</p> <h2>Protecting yourself</h2> <p>The most important thing to do is make sure the ATO does not use a bank account number other than yours. As long as the ATO only has your bank account number to transfer your tax rebate, this scam does not work.</p> <p>It also helps to protect your Tax File Number. There are only four groups that ever need this number.</p> <p>The first is the ATO itself. The second is your employer. However, remember you do not need to give your TFN to a prospective employer, and your employer only needs your TFN <em>after</em> you have started work.</p> <p>Your super fund and your bank may ask for your TFN. However, providing your TFN to your super fund or bank is optional – it just makes things easier, as otherwise they will withhold tax which you will need to claim back later.</p> <p>Of course, all the usual data safety issues still apply. Don’t share your driver’s licence details without good reason. Take similar care with your passport. Your Medicare card is for health services and does not need to be shared widely.</p> <p>Don’t open emails from people you do not know. Never click links in messages unless you are sure they are safe. Most importantly, know your bank will not send you emails containing links, nor will the ATO.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/210459/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/rob-nicholls-91073">Rob Nicholls</a>, Associate professor of regulation and governance, <a href="https://theconversation.com/institutions/unsw-sydney-1414">UNSW Sydney</a></em></p> <p><em>Image </em><em>credits: Shutterstock</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-500-million-ato-fraud-highlights-flaws-in-the-mygov-id-system-heres-how-to-keep-your-data-safe-210459">original article</a>.</em></p>

Technology

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Should you register with a GP? What is MyMedicare and how might it change the care you get?

<p><em><a href="https://theconversation.com/profiles/anthony-scott-10738">Anthony Scott</a>, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em></p> <p><a href="https://www.health.gov.au/our-work/mymedicare">MyMedicare</a> is a new voluntary scheme that allows patients to register with their usual GP, in an attempt to improve continuity of care and health outcomes.</p> <p>From October 1, the scheme will give registered patients access to longer telehealth consultations. Then, from next year, GP clinics with patients who are frequently admitted to hospital or are aged care residents will be able to access additional “blended” funding, which sits outside Medicare’s usual fee-for-service.</p> <p>MyMedicare was announced in the May budget, with A$19.7 million of funding over four years, alongside a range of <a href="https://www.health.gov.au/sites/default/files/2023-05/building-a-stronger-medicare-budget-2023-24_0.pdf">other health reforms</a>, including funding for practice nurses to improve team-based care, as well as new incentives to increase bulk billing rates.</p> <p>We’re still waiting on a lot of detail about how the scheme will function. But here’s what we know so far – and what it might mean for patients and GPs.</p> <h2>What do we know about MyMedicare?</h2> <p>The scheme is voluntary for GPs and patients. In addition to patients opting in, GPs will also need to sign up, and have been able to do so since the start of July. There will be a gradual roll out and it will take three years to cover all of Australia.</p> <p>Though details are yet to be confirmed, from mid-2024 individual GPs will receive “<a href="https://www.acponline.org/about-acp/about-internal-medicine/career-paths/residency-career-counseling/resident-career-counseling-guidance-and-tips/understanding-capitation">capitation</a>” payments for patients who have more than ten hospital admissions per year. These patients are likely to have complex needs and multiple conditions and, for various reasons, may not be able to access a GP as much as they should.</p> <p>Though not yet confirmed, GPs are likely to <a href="https://www.ausdoc.com.au/news/the-mymedicare-enrolment-scheme-is-open-for-gp-practices-should-you-sign-up-now/">receive</a> $2,000 per patient per year, plus a $500 bonus for keeping patients out of hospital. The funding provides incentives for the GP to coordinate their care and provide the patient with access to nursing and allied health if required. It’s hoped this will stop patients going to hospital as often.</p> <p>There will also be similar payments for providing regular visits to patients in residential aged care facilities.</p> <h2>Will MyMedicare make a difference to patients?</h2> <p>Let’s consider four key areas patients are concerned about:</p> <p><strong>1) Continuity of care</strong></p> <p>Research shows greater <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1365-2753.2009.01235.x">continuity of care</a> – developing a relationship with and seeing the same provider or team for your care – improves patient outcomes and reduces costs to the health system. People who use MyMedicare to get a regular GP may see some of these benefits.</p> <p>But many patients already see the same GP or visit the same practice, especially those with chronic conditions. So registration with a practice may not make much difference for this group of patients. What are the other benefits of registration?</p> <p><strong>2) Reducing hospital admissions</strong></p> <p>Avoiding hospitals can be beneficial – in hospitals, there are no home comforts, they are inconvenient for you and relatives, there is little privacy, and they can be costly. Patients with ten or more hospital admissions in a year have been targeted as they have more complex chronic conditions and may be from vulnerable populations.</p> <p>Better access to a GP could prevent patients visiting the emergency department or prevent overnight hospital admissions. Research shows financial incentives for GPs to better manage chronic disease <a href="https://journals.sagepub.com/doi/full/10.1177/01410768211005109">can reduce hospital admissions</a>.</p> <p>However, <a href="https://bmjopen.bmj.com/content/5/4/e007342?cpetoc=&amp;int_source=trendmd&amp;int_medium=trendmd&amp;int_campaign=trendmd">hospital admissions could also increase</a> if the scheme identifies significant levels of previous unmet need.</p> <p><strong>3) Reducing barriers to care</strong></p> <p>MyMedicare does not directly address many of the <a href="https://link.springer.com/article/10.1186/1475-9276-12-18">barriers to accessing GP services</a>. If GPs are getting paid more and still getting fee for service payments, will MyMedicare patients be guaranteed to be bulk billed? This has not yet been mentioned, but could be an important part of the scheme to attract patients.</p> <p>People with chronic disease have <a href="https://grattan.edu.au/report/not-so-universal-how-to-reduce-out-of-pocket-healthcare-payments/">two to three times higher</a> out-of-pocket costs than those who do not, and <a href="https://healthsystemsustainability.com.au/the-voice-of-australian-health-consumers/">30%</a> of patients with chronic disease would find it difficult to pay for care if they became seriously ill.</p> <p>Unfortunately MyMedicare will not directly reduce out-of-pocket costs, which may be the real reason why people use “free” emergency department care.</p> <p><strong>4) Making it clear and easy to sign up</strong></p> <p>It is also unclear how the process of registration will work for patients. Will patients be offered a choice of alternative GPs? If chosen, will GPs be obliged to take them?</p> <p>At the moment, there are no public data about out-of-pocket costs and quality of care provided by different GPs, and so it will be impossible for patients to make an informed choice. Information to inform choice on a website would be useful, as is the case for <a href="https://www.health.gov.au/resources/apps-and-tools/medical-costs-finder">specialists</a>.</p> <p>It’s also unclear if patients who chose to register will find it harder to move GPs or continue to see other GPs if they wish to. The advantages to patients of MyMedicare need to be made clear to encourage them to register and be supported to exercise informed choice if they wish.</p> <h2>Will it make a difference for GPs?</h2> <p>Patient registration can mean a more secure and predictable stream of future income for some patients and also less competition (in terms of “losing” patients to other GPs) and more continuity of care.</p> <p>Moving away from fee for service towards a blended payment model is <a href="https://www.cochranelibrary.com/cdsr/doi/10.1002/14651858.CD011865.pub2/full">widely recognised</a> to support higher value health care.</p> <p>Yet GPs are wary of moving from fee for service to capitation payment. Capitation payments are fixed, so GPs take on more financial risk if they have more complex patients who are more costly to treat and manage in terms of time and effort. Whether the $2,000, plus $500 bonus, plus normal fee for service payments are sufficient to cover the costs of treating very complex patients is unclear.</p> <p>Overall, GPs will get more money, and along with the other announcements in the budget, will receive a significant investment of resources invested in primary care.</p> <p>Our previous <a href="https://onlinelibrary.wiley.com/doi/abs/10.1002/hec.3572">research</a> has shown a 5% increase in earnings for GPs is predicted to reduce the total number of GPs by up to 1% (equivalent to around 310 GPs in 2021) at a time of significant GP shortages. If they get paid more, they would prefer to work less.</p> <p>But this could also be offset because the increase in funding will hopefully make general practice more attractive as a career and so there will be more postgraduate doctors <a href="https://www.sciencedirect.com/science/article/pii/S0167629612000902">choosing to be a GP</a>.</p> <p>Voluntary patient registration under MyMedicare has potential to strengthen the relationship between patients and their GP, and focuses on keeping patients out of hospital and properly cared for in residential aged care. But the devil is in the detail and we will need a proper evaluation to determine the impacts on health outcomes, costs and access to health care. <!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/206183/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/anthony-scott-10738">Anthony Scott</a>, Professor of Health Economics, <a href="https://theconversation.com/institutions/monash-university-1065">Monash University</a></em></p> <p><em>Image credits: Getty Images</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/should-you-register-with-a-gp-what-is-mymedicare-and-how-might-it-change-the-care-you-get-206183">original article</a>.</em></p>

Caring

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Melissa Caddick's parents at war with fraud victims

<p>Melissa Caddick's parents are at war with the victims of the deceased conwoman's long-running scam, as they fight over who deserves the biggest cut of her estate. </p> <p>The two parties are locked in a bitter despite over Caddick's penthouse apartment in Sydney's affluent eastern suburbs, where Caddick's parents Ted and Barb Grimley currently reside.</p> <p>The Grimleys claim they deserve a larger share of the proceeds of the sale of the property, despite the penthouse being purchased by Caddick as part of her Ponzi scheme. </p> <p>However, the victims of Caddick's scam are adamant that the proceeds should be evenly divided by those who have suffered at the hands of the deceased conwoman. </p> <p>The apartment was purchased by Caddick seven years ago, when Mr and Mrs Grimley gave their daughter $1 million for a share of the eastern suburbs residence.</p> <p>Despite the hefty share sum, Melissa put the entire apartment in her own name and used her parents' money on new jewellery.</p> <p>The Grimleys have refused to vacate the property, telling the victims during a recent mediation that they would only move out if they were paid $950,000 – effectively getting most of their money back and leaving nearly 60 other investors divvying up the rest of the proceeds and getting back less than half of what they are owed.</p> <p>One of the victims of Caddick's scam, Sarah Steel, said she feels for the Grimleys and what they have been through, but they need to think of the other victims involved. </p> <p>"I feel really terrible for what they've been through," she said.</p> <p>"But it feels to me that they aren't feeling the same for the rest of us going through this same thing."</p> <p>"We're facing a situation where other people are putting themselves forward as a priority to the other investors who were duped." </p> <p>Lawyers for the majority of Caddick's victims are now considering suing the auditors that Caddick hired and who were tasked with casting a critical eye over her finances.</p> <p>Given Caddick ran one of the longest frauds in Australian history, not one auditor over the years ever flagged a problem with her financial accounts.</p> <p>Michael Chapman, the lawyer representing the majority of Caddick's victims, is at a complete loss as to how the auditors couldn't have noticed the fraudulent behaviour. </p> <p>"We feel like they've dropped the ball," he told <em>60 Minutes</em>.</p> <p>"We feel as though there is a good claim that could be brought forward against the auditors." </p> <p>Lawyers will be seeking $15 million from the auditors in a potential court case, and if they succeed, the victims of Caddick's scamming would be close to getting back all of the money they lost. </p> <p>"I don't discount the pain and the suffering that these people have been through to this point," Chapman said.</p> <p>"It would be a silver lining."</p> <p><em>Image credits: 60 Minutes</em></p>

Legal

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Melissa Caddick mystery officially laid to rest

<p>A corner has revealed missing fraudster Melissa Caddick is dead but it’s difficult to determine when and how she died.</p> <p>Deputy State Coroner Elizabeth Ryan released her findings after a lengthy coronial inquest examined the circumstances surrounding the 49-year-old’s mysterious disappearance.</p> <p>“I believe it’s appropriate at the outset to say I have concluded Melissa Caddick is deceased,” Ryan said as she handed down her findings at the NSW Coroner’s Court in Lidcombe.</p> <p>However, Ryan said it was tricky to make an accurate finding as to how, when and where she died.</p> <p>Caddick disappeared from Sydney’s eastern suburbs in November 2020, hours after her Dovers Heights mansion, which doubled as her place of business, was raided by the AFP and ASIC.</p> <p>The corporate watchdog had accused Caddick of operating a Ponzi scheme and misappropriating $24 million, including from her friends and family, to fund a lavish lifestyle including holidays, designer jewellery, clothing and shoes.</p> <p>The case has sparked a number of conspiracy theories and even inspired a television series.</p> <p>The inquest examined Caddick’s final hours, the actions of her husband Anthony Koletti, and the police investigation.</p> <p>The court heard that Caddick had taken her own life by jumping off the cliff at Rodney Reserve, approximately 500 metres from her home, on the morning of November 12, 2020.</p> <p>Caddick was heard walking out her front door at about 5:30am before disappearing and failing to turn up to a court appearance the following day.</p> <p>However, Koletti did not report his wife missing to the Rose Bay Police Station until 11:45am on November 13 - 30 hours since she was last seen.</p> <p>Amid his evidence, Koletti told the court he was under the mistaken belief he had to wait 24 hours to report someone missing.</p> <p>“Did you delay reporting her missing until that point in order to give her time to try to go somewhere?” Counsel assisting the coroner Jason Downing asked.</p> <p>“No,” Mr Koletti said.</p> <p>NSW Police Sergeant Trent Riley told the court during the inquest that he found it “extremely strange and unusual behaviour” that Koletti had initially told police he did not want them to come to his house or go to the station to make a statement.</p> <p>“I thought it was strange that a husband would ring the police station, report his wife missing from two days ago and wasn’t prepared to come to the police station and didn’t want police to go around and speak with him because he had too much work on that day,” Sergeant Riley told the court.</p> <p>Sergeant Riley also told the court that Koletti provided conflicting versions of when he had last seen his wife alive.</p> <p>He described Koletti as, “evasive, vague and inconsistent”.</p> <p>Colette has been consistently critical of the ASIC investigation.</p> <p>In an affidavit tendered to the court, he claimed he and Caddick were denied food, water and medical attention during the 12 hours when ASIC and AFP were present at their home.</p> <p>However, the court heard that during the raid, Caddick drank a protein shake, Koletti made her several coffees and they occasionally smoked cigarettes in their backyard.</p> <p>In a statement, he said, “I believe (Caddick) died as a direct result of ASIC’s negligence, cruelty and inhumanity.”</p> <p>Despite conceding Caddick was responsible for defrauding millions of investors and that they were allowed to be in their home on the day of the raid, he still maintained ASIC was responsible for her death.</p> <p>In February 2021, a foot washed up on Bourdna Beacon on the NSW south coast which was later identified as Caddick’s.</p> <p>The court had previously heard that Caddick’s shoe was covered in 250g of goose barnacles when it washed ashore.</p> <p>An expert's report stated the barnacle growth suggested the shoe would have been free floating on the surface of the water for three-seven days before washing up.</p> <p>The court heard that it’s possible the shoe drifted on the ocean floor for several months before floating to the surface and onto the beach.</p> <p>Oceanographer Dr David Griffin said that according to calculations using ocean currents, it’s plausible the show went into the water at Dover Heights and was found 400km south three months later.</p> <p>Pathologist Jennifer Pokorny told the inquest in a statement that it was not possible to determine the full extent of Caddick’’s injuries as there were no other remains aside from the decomposed foot.</p> <p>She added it was also not possible to determine a cause of death.</p> <p>Forensic psychiatrist Dr Kerri Eagle told the inquest that after reviewing Caddick’s medical record, along with witness statement, it appeared she had narcissistic personality disorder.</p> <p>She said that for people suffering from the disorder, their self-esteem and sense of well-worth latches onto external admiration and impressing others.</p> <p>Dr Eagle revealed to the court that as a result of being charged, Caddick would have also been in danger of losing her work and the “respect and admiration” of others.</p> <p>She told Ryan that when ASIC raided her home, it was possible it had a “very huge” impact on her self-esteem.</p> <p>“Ms Caddick appeared to experience problems with low mood, depression and anxiety and problems coping with extraordinary stress … the low mood symptoms persisted as long as the stress persisted,” Eagle said.</p> <p>She also noted that people with similar disorders have been known to take their own lives after a “major insult to their self-esteem”.</p> <p><em>Image credit: Instagram</em></p>

Legal

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Federal Budget 2023: How to make the most of the key promises

<p dir="ltr">Treasurer Jim Charles has handed down his first budget for 2023/24, offering a series of measures aimed at tackling the cost-of-living crisis.</p> <p dir="ltr">Millions of Australians will receive a boost from the federal government medical care, bills and welfare payments, amid the forecast that the budget will be be in the black with a surplus of $4bn.</p> <p dir="ltr">Here’s what it means for you:</p> <p dir="ltr"><strong>Bill help</strong></p> <p dir="ltr">Those who are on the pension, a seniors card holder or a recipient of family tax benefits A and B will be eligible to get help with energy bills thanks to a deal between the states and Commonwealth that’s worth $1.5bn.</p> <p dir="ltr">That means over five million eligible households and one million eligible small businesses will benefit from the scheme.</p> <p dir="ltr">The relief will come in the form of credits that apply directly to their power bills rather than cash, and the amount they receive will depend on the state they live in.</p> <p dir="ltr"><strong>Medicare Relief</strong></p> <p dir="ltr">The incentives paid to GPs who bulk bill 11.6m eligible Australians including children under 16, pensioners and other concession card holders will increase.</p> <p dir="ltr">GPs will be able to claim the incentives for in-person consultations over six minutes long and certain telehealth consultations.</p> <p dir="ltr">GPs who bulk bill patients in the city will be paid a new incentive of $20.65 compared to the previous rate of $6.60, while regional GPs will receive a $31.40 incentive, up from $10.05.</p> <p dir="ltr"><strong>Welfare recipients</strong></p> <p dir="ltr">Over 1.1 million vulnerable Australians will benefit from a $40 fortnightly boost from September, if parliament agrees.</p> <p dir="ltr">The increased base rate will apply to people receiving JobSeeker, Youth Allowance, Parenting Payment (partnered), ABSTUDY, Disability Support Pension (Youth) and Special Benefit.</p> <p dir="ltr"><strong>Rental assistance</strong></p> <p dir="ltr">For many renters, this budget means that rent is forecasted to increase over the next year as the market tightens.</p> <p dir="ltr">However, for those currently receiving the maximum Commonwealth Rent Assistance allowance their payments will increase by 15 per cent.</p> <p dir="ltr">Here’s what the Federal Budget will look like at a glance:</p> <ul> <li dir="ltr"> <p dir="ltr">Budget deficit of $13.9 billion in 2023/24</p> </li> <li dir="ltr"> <p dir="ltr">Commonwealth net debt to rise to $574.9 billion (22.3 per cent of GDP) in 2023/24</p> </li> <li dir="ltr"> <p dir="ltr">Economic growth to fall to 1.5 per cent in 2023/24</p> </li> <li dir="ltr"> <p dir="ltr">Unemployment rate to rise to 4.25 per cent in 2023/24</p> </li> <li dir="ltr"> <p dir="ltr">Inflation as measured by CPI to be 3.25 per cent in 2023/24</p> </li> <li dir="ltr"> <p dir="ltr">Wages to rise by four per cent in 2023/24</p> </li> </ul> <p dir="ltr"> </p> <p dir="ltr">And here are the key measures the federal budget has promised:</p> <ul> <li dir="ltr"> <p dir="ltr">Energy bill relief for five million households and one million businesses</p> </li> <li dir="ltr"> <p dir="ltr">Triple bulk-billing incentives and more funding for urgent care clinics</p> </li> <li dir="ltr"> <p dir="ltr">Base rate of JobSeeker and other payments to be raised for 1.1 million households</p> </li> <li dir="ltr"> <p dir="ltr">Commonwealth Rent Assistant rise for 1.1 million households</p> </li> <li dir="ltr"> <p dir="ltr">Housing boost including tax breaks for build-to-rent investors</p> </li> <li dir="ltr"> <p dir="ltr">$4 billion extra for renewable energy</p> </li> <li dir="ltr"> <p dir="ltr">Tax breaks for small business to write-off assets and reduce energy costs</p> </li> <li dir="ltr"> <p dir="ltr">Targeted help for jobless aged over 55</p> </li> <li dir="ltr"> <p dir="ltr">Cut to cost of medicines</p> </li> </ul> <p><em>Image: Getty Images/ Martin Ollman / Stringer</em></p>

Money & Banking

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Australians lost more than $3bn to scammers in 2022. Here are 5 emerging scams to look out for

<p>The Australian Competition and Consumer Commission’s latest <a href="https://www.accc.gov.au/system/files/Targeting%20scams%202022.pdf">Targeting Scams report</a> indicates Australians reported more than A$3 billion lost to fraud in 2022. This is about a $1 billion increase on <a href="https://theconversation.com/australians-lost-2b-to-fraud-in-2021-this-figure-should-sound-alarm-bells-for-the-future-186459">reported losses from 2021</a>.</p> <p>Year upon year, we’re witnessing a rise in monetary losses to fraud. Behind these figures sit millions of Australians who experience a range of financial and non-financial <a href="https://www.aic.gov.au/sites/default/files/2020-05/29-1314-FinalReport.pdf">harms</a>.</p> <p>Here’s what we’ve learned from the latest report – and some advice on what to look out for in the year ahead.</p> <h2>2022 at a glance</h2> <p>Of the reported $3 billion lost, about half was stolen as part of investment schemes – more than double the $701 million figure from 2021. A desire to invest in cryptocurrency has driven up these losses, with potential investors inadvertently transferring money to offenders advertising a range of falsehoods.</p> <p>Remote access schemes – in which a scammer convinces the victim to grant them access to their computer – jumped into second place, with $229 million in reported losses. This was followed by payment redirection scams (also known as business email compromise fraud).</p> <p>Those who reported directly to Scamwatch lost an average of $19,654 – an increase of 54% from the $12,742 reported in 2021.</p> <p>The report also shows not all victims are targeted equally; people aged 65 years and older reported the highest losses across all demographics. Indigenous Australians, people with a disability, and those from culturally and linguistically diverse backgrounds were also overrepresented.</p> <p>For the first time in many years, text message was the most popular method for offenders to target victims. And while bank transfers were the most popular way to send funds to offenders, <a href="https://theconversation.com/crypto-theft-is-on-the-rise-heres-how-the-crimes-are-committed-and-how-you-can-protect-yourself-176027">cryptocurrency transfers</a> continue to increase in popularity – rising 162.4% in one year.</p> <p>There was, however, a reduction in fraudulent phone calls. This is likely attributable to the introduction of <a href="https://www.commsalliance.com.au/__data/assets/pdf_file/0015/72150/C661_2022.pdf">regulatory action</a> to block known scam calls. It’s a bright spot in an otherwise dark report.</p> <h2>Trends to look out for</h2> <p>The Targeting Scams report demonstrates the many ways offenders seek to defraud victims. On one hand, people are becoming more aware of common scam tactics. On the other, criminals are adjusting their methods to gain the upper hand.</p> <p>Here are five types of relatively lesser-known frauds everyone should be aware of.</p> <p><strong>1. Romance baiting</strong></p> <p>Also known as “<a href="https://news.sophos.com/en-us/2021/05/12/fake-android-and-ios-apps-disguise-as-trading-and-cryptocurrency-apps/">cryptorom</a>” or “<a href="https://krebsonsecurity.com/2022/07/massive-losses-define-epidemic-of-pig-butchering/">pig butchering</a>”, this scam is a convergence of investment fraud and traditional romance fraud approaches.</p> <p>The offender first initiates a relationship with the victim – through dating apps, websites or social media platforms. Once they’ve established trust, they encourage the victim to put their money into an “investment” opportunity, often cryptocurrency. The victim will then unknowingly transfer their money to the offender, who is under a different guise.</p> <p>This kind of romance baiting raises fewer red flags than directly asking for money, and is targeting a younger demographic compared to more traditional romance fraud.</p> <p>Such deceptions are coded under investment schemes. This is likely driving the surge in investment scheme losses reported in recent years, while also accounting for a lack of substantial increases in romance fraud.</p> <p><strong>2. Online shopping fraud</strong></p> <p>Offenders are skilled at creating fake websites and product advertisements that look genuine.</p> <p>Often these fake sites will have only subtle differences from their real counterparts. Consumers may not be able to tell the difference. Criminals can directly access funds through victims’ credit card details obtained on these sites.</p> <p>Online shopping fraud targets a range of demographics. It’s happening on stand-alone websites, social media platforms and online marketplaces.</p> <p><strong>3. Jobs and employment fraud</strong></p> <p><a href="https://research.qut.edu.au/centre-for-justice/wp-content/uploads/sites/304/2022/02/Briefing-Paper-Series-Feb2022-Issue21-17022022.pdf">Research</a> has indicated that working from home and flexible working conditions are strong indicators of a fraudulent job listing.</p> <p>But in a post-COVID world, flexibility at work is often a key criterion for job seekers, if not a deal-breaker. Offenders have noticed this, and are responding by posting attractive job advertisements that offer flexibility and high incomes.</p> <p>Victims submit their CVs and personal credentials (setting themselves up for identity crime), or may be required to pay upfront for training or materials costs for a job that doesn’t exist.</p> <p>Employment scams are targeting younger people in particular, as they’re more likely to have <a href="https://australiainstitute.org.au/report/youth-unemployment-and-the-pandemic/">experienced job loss and insecurity</a> in the wake of the pandemic.</p> <p><strong>4. Recovery schemes</strong></p> <p>Many fraud victims will want to take whatever action possible to recover lost funds.</p> <p>To exploit this, offenders will trade the details of victims with each other. They will then pose as authorities (often law enforcement, banks or private agencies) who are aware of the victim’s circumstances and promote their ability to regain the missing funds for a fee.</p> <p>In this way, victims who are desperate to recover losses are manipulated into paying even more money to offenders.</p> <p><strong>5. Remote access schemes</strong></p> <p>Receiving a phone call from a computer technician advising of a problem with your computer and offering to fix it is a common experience for many. While this approach isn’t new, it made a strong resurgence in 2022 – particularly targeting older people.</p> <p>These scam calls often come through landlines and prey on people’s fear for the security of their bank details and other personal data. The fraudsters often invoke a sense of urgency about needing to rectify the “problem”, and victims are persuaded to give the offender remote access to their computer.</p> <p>The criminal can then access a wealth of personal information. They can gain direct entry to bank accounts to transfer funds, and can access identity credentials and other sensitive details to commit identity crime in the future.</p> <h2>Change is needed to protect the public</h2> <p>The threat of fraud will only increase alongside technological evolution. Experts are concerned about artificial intelligence tools such as <a href="https://www.theguardian.com/technology/2023/mar/08/darktrace-warns-of-rise-in-ai-enhanced-scams-since-chatgpt-release">ChatGPT</a> and image and video generators giving cybercriminals yet another tool to add to their arsenal.</p> <p>The latest Scamwatch report is further evidence banks and financial institutions need to implement measures to help reduce fraud losses; among these, the checking of account names against BSB numbers for all transactions. The UK has a <a href="https://www.ukfinance.org.uk/policy-and-guidance/guidance/confirmation-payee">confirmation-of-payee</a> policy that does this.</p> <p>The government is attempting to address the continued surge in fraud losses through the revision of its <a href="https://www.homeaffairs.gov.au/about-us/our-portfolios/cyber-security/strategy/2023-2030-australian-cyber-security-strategy">cybersecurity strategy</a> and the potential establishment of a <a href="https://consultation.accc.gov.au/accc/national-anti-scams-centre-survey/">National Anti-Scams Centre</a>.</p> <p>These are both positive steps but it’s clear there’s a need for more work to be done.</p> <p><em>Image: Getty</em></p> <p><em>This article originally appeared on <a href="https://theconversation.com/australians-lost-more-than-3bn-to-scammers-in-2022-here-are-5-emerging-scams-to-look-out-for-204018" target="_blank" rel="noopener">The Conversation</a>. </em></p>

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Melbourne mother to be jailed with baby

<p>A Melbourne mother and her son will face up to at least 12 months behind bars after she stole almost $200,000 from Medicare while employed at a medical clinic.</p> <p>Sarah Ward, 31, made more than 1,600 false claims to Medicare, sometimes up to 80 a day, while working as a medical receptionist at the Melbourne Digestive Centre.</p> <p>It was not the first time the mother had committed fraud while working in the medical field.</p> <p>Ward had just completed a sentence for stealing $29,000 from Cabrini Hospital, where she worked for five years before being terminated.</p> <p>The County Court Judge Geoff Chettle sentenced Ward to two years, ordering her to serve at least 12 months in jail after she pleaded guilty to a single charge of obtaining a financial advantage by deception from a Commonwealth entity.</p> <p>The 31-year-old mother of two stole $181,121.75 from Medicare between March 2019 and April 2020.</p> <p>Out of the 1,609 false claims, her name was on 781 and her husband’s name was on 828, with refunds transferred into bank accounts for both of them.</p> <p>Her fraud was discovered when the clinic’s accountants tipped off authorities and Medicare.</p> <p>Ward told a psychologist she believes she was inadequately paid and wished to keep up with her affluent friends, wanting to buy better clothing for her children and a better car.</p> <p>Judge Chettle said Ward had wanted to keep up with the lifestyles she saw on social media.</p> <p>Ward believed if she was not able to accumulate the money to match the affluent lifestyles she so desired, then it would result in her experiencing recurrent rejection and would remain on the periphery of social groups, according to Chettle.</p> <p>Her offending involved planning and sophistication which was both repetitive and long-lasting.</p> <p>She obtained a hefty amount of funds, and breached the trust placed in her by her employees, Chettle said.</p> <p>Ward was fired by the clinic as soon as the offence was uncovered, she then went to work for a psychology practice who were unaware of her fraud.</p> <p>She has been on maternity leave since February 2022, but seems destined to lose that job once she’s behind bars, the judge said.</p> <p>The court was told Ward had repaid the money in full, taking $100,000 from a mortgage offset account and selling a $70,000 car. She also allegedly borrowed money from her mother.</p> <p>Ward has two children, aged one and three.</p> <p>The one-year-old will go into custody with her as part of a Corrections Victoria’s Living with Mum program.</p> <p>Former colleague Vanessa Whitelaw attended Ward’s court hearings to get closure after a traumatic period within what was described as a tight-knit workplace.</p> <p>Co-workers had wondered about Ward’s luxurious lifestyle, Whitelaw said.</p> <p>We thought it was very strange — she was very young, (with a) new family, mortgage, driving around in a $150,000 vehicle, Gucci scarves, fancy shoes,” she said.</p> <p>“But never in a million years did we think that this was going on behind the scenes.”</p> <p>We thought it was very strange — she was very young, (with a) new family, mortgage, driving around in a $150,000 vehicle, Gucci scarves, fancy shoes,” she said.</p> <p>“But never in a million years did we think that this was going on behind the scenes.”</p> <p><em>Image credit: Getty</em></p>

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“So tone deaf”: Karl loses it over Medibank bosses' massive bonuses

<p dir="ltr">Karl Stefanovic has slammed the top bosses at Medibank after it has been revealed they will be taking home millions in bonuses amid the company’s cyber attack crisis.</p> <p dir="ltr">While ten million of Medibank’s customers are learning whether their personal data has made it onto the dark web - and fork out cash to keep themselves safe - bosses will still be collecting a total of $7.3 million in bonuses.</p> <p dir="ltr">Joel Andrews, one customer whose data has been stolen, told <em>Today </em>that “it’s disgusting” that bosses aren’t willing to give up their bonuses despite affected customers facing financial losses.</p> <p dir="ltr">“I’m furious,” Andrews said.</p> <p dir="ltr">“To think that it’s taken them a month to get this information out to us and say what’s been released, I understand it takes time to find these things out but it’s taken them that long. </p> <p dir="ltr">“They promised early on that they would act quickly because it’s such a time-sensitive issue, and it feels like they have just left it up to them, on their timing.”</p> <p dir="ltr">“I mean you’ve got the Medicare boss getting $1.5 million in bonuses last financial year,” co-host Ally Langdon said.</p> <p dir="ltr">“He also receives 150 percent of his fixed salary in shares … it’s pretty tone deaf, isn’t it?”</p> <p dir="ltr">“It’s disgusting,” Andrews replied.</p> <p dir="ltr">"To think that all of the customers out there, ten million customers, if each of them have to pay for their own software to do data protection, losses to them are around $100 each,.</p> <p dir="ltr">"That's a significant loss to each person and they are not willing to give up their bonuses."</p> <p dir="ltr">Stefanovic, who found out he was also a victim of the attack just two days ago, said he had “no sympathy” for the company as it faces declining share prices and hefty costs as a result of the attack and agreed the bonuses were “disgusting”.</p> <p dir="ltr">“It’s a failure across the board and they’re giving themselves bonuses,” the <em>Today Show</em> host said.</p> <p dir="ltr">“It’s unbelievable.</p> <p dir="ltr">"This is so tone deaf, it is one of the most tone deaf things I have seen a corporation do in Australia for a long, long time.”</p> <p dir="ltr">The health insurance company has come under fire for how it handled the cyber attack, with customers’ data being leaked onto the dark web after it refused to pay a ransom and affected customers finding out if they’ve been targeted more than a month later.</p> <p dir="ltr">As the Australian Federal Police continue their investigation into the attack, they have promised to take swift action against anyone who accesses the private data shared on the dark web.</p> <p dir="ltr">Affected customers who aren’t happy with Medicare’s actions or its handling of the situation have also begun proceedings to file a lawsuit against the company.</p> <p><span id="docs-internal-guid-bf090b99-7fff-1249-0ed1-ac63862a591b"></span></p> <p dir="ltr"><em>Image: The Today Show</em></p>

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Cost of prescription meds to be slashed

<p>From the beginning of 2023, the price of prescription medications will be slashed in a new cost-of-living measure by the federal government.</p> <p>Australians' co-payment for scripts under the Pharmaceutical Benefits Scheme (PBS) will be capped at $30 as opposed to the current maximum co-payment of $42.50. </p> <p>That will save people who have multiple regular medications hundreds of dollars each year.</p> <p>The measure will also help prevent people having to decide between spending their money on medicines or other essentials.</p> <p>Measures won’t come into effect until January 1, with the Albanese government tabling the bill in parliament on Wednesday.</p> <p>Health Minister Mark Butler said almost a million Australians delayed or avoided filling prescriptions, citing recent research.</p> <p style="box-sizing: inherit; margin: 0px 0px 5px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; color: #323338; font-family: Roboto, Rubik, 'Noto Kufi Arabic', 'Noto Sans JP', sans-serif; background-color: #ffffff; outline: none !important;">“This change will put close to $200 million back in the pockets of Australians each year."</p> <p style="box-sizing: inherit; margin: 0px 0px 5px; padding: 0px; border: 0px; font-size: 16px; vertical-align: baseline; color: #323338; font-family: Roboto, Rubik, 'Noto Kufi Arabic', 'Noto Sans JP', sans-serif; background-color: #ffffff; outline: none !important;"><em>Image: Getty</em></p>

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William Tyrrell's foster parents charged with property fraud

<p dir="ltr">William Tyrrell's foster parents are facing charges of property fraud, after being accused of getting someone to make "dummy bids" at an auction in Sydney. </p> <p dir="ltr">The couple, who cannot be named for legal reasons, will each face one count of dishonestly obtaining financial advantage by deception and will face court in October. </p> <p dir="ltr">They have been accused of getting a person to deliberately make fake bids on a property in December 2020, in order to unfairly drive the price up.</p> <p dir="ltr">These charges have no relation to the case of their missing three-year-old foster child, who was last seen wearing a Spider-Man suit in the garden of his foster grandmother's home in Kendall on the NSW mid-north coast in 2014. </p> <p dir="ltr">"Strike Force Rosann detectives issued Future Court Attendance Notices (FCAN) to a 55-year-old man and a 56-year-old woman," police said in a statement.</p> <p dir="ltr">"It will be alleged in court the pair organised a third party to falsely bid for a property at an auction in December 2020."</p> <p dir="ltr">The maximum penalty for dishonestly obtaining financial advantage by deception is 10 years in prison. </p> <p dir="ltr"><em>Image credits: Shutterstock / NSW Police</em></p>

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Top tips for avoiding scams

<p>Falling victim to a clever scam artist is something we all fear! With these top tips we show you how to avoid getting ripped off.</p> <p>Statistics show that unfortunately older Australians are often the target of scam artists looking to make a quick buck off someone else’s hard-earned cash. They’ve had help.</p> <p>With technology evolving and more people going online to pay bills, communicate with friends and family, and to find love, there have been a number of reported cases of people sending money overseas or elsewhere never to see it again. However, there are ways to outsmart those who would try to trick you out of your retirement savings.</p> <p><strong>What to look out for</strong><br />Financial fraud can come in any form. It can be an email from a stranger asking for a donation to a charitable cause or a phone call promising a once-in-a-lifetime investment opportunity. However, as the saying goes, if it sounds too good to be true, it’s because it probably is.</p> <p>According to the Australian Competition and Consumer Commission’s (ACCC) SCAMwatch site, a one-stop information shop on how to recognise, avoid and report scams, almost everyone will be approached by a scammer at some stage in their life. That’s a scary pronouncement, but one that’s very much evident in the growing number of stories of people who have fallen victim to a scam.</p> <p>While some scams are easy to spot, others appear to be genuine offers or bargains. There’s a number of different types of scams too, from investment and superannuation scams to ones involving your bank or credit card. It can even look as innocent as a supermarket customer satisfaction survey.</p> <p>At the end of last year, the ACCC spread the news of a fake Woolworths’ customer satisfaction survey, which asked shoppers for their bank account details in exchange for a $150 gift voucher. Scammers sent the survey out mostly via social media or email, and asked people to complete all of the questions before saying they could claim their voucher. However, when people did try and claim the voucher, they found it was fake.</p> <p>“Scammers impersonate well-known businesses to get their hands on your personal details,” ACCC deputy chair Delia Rickard said at the time. “Once you have unknowingly sent your details to a scammer, they can steal your money – and possibly even your identity.”</p> <p><strong>Warning signs</strong><br />Scams can target people of all backgrounds, ages and income levels. The reason many people fall victim to a scam is because they look like the real thing. They could look like a legitimate business email or letter, with logos, contact details and genuine information that could be targeting a specific need or desire. It’s not until you dig a little deeper that you find something is not right.</p> <p>Scammers can also manipulate you by “pushing your buttons”, according to the ACCC, to get an automatic response. This is not based on you personally but on how society works as a whole. It’s not until after you have acted in the way they want that you find something is wrong.</p> <p>The best way to spot a scam is to be vigilant and cautious, especially when it comes to giving out personal details over the internet or the phone. Most scams will need you to do something before they can work. It may ask for your bank or credit card details, or for you to send money based on a promise of significant financial reward that turns out to be false. Some scams also rely on you to agree to deals without getting advice first or to buy a product without properly looking into it.</p> <p><strong>Don’t be a victim</strong><br />The first step in protecting yourself against scams and other forms of financial fraud is to be aware that it can happen. Some people hold certain perceptions that make them more susceptible to being scammed, such as the belief that all companies or organisations are legitimate or that all internet sites are legitimate. Both are myths.</p> <p>Consumer protection agencies try to weed out dodgy operators before they have an impact, but sometimes one can slip through the net. Most of these fake sites will be taken down after a few days, but that is still long enough for someone to have bought into a dodgy deal or to have provided their bank details to a scammer.</p> <p>The second step is to be cautious and protective of your personal details. This includes your contact details and bank or credit card details. Always seek independent advice before agreeing to any sort of money commitment and remember there are no get-rich-quick schemes. Check your bank statements regularly and if you see a transaction that you’re not sure about or cannot explain, contact your bank or credit union. Also, keep your bank cards and personal identity number safe and secure.</p> <p>Be cautious and question everything. It’s the best approach to make sure you don’t become a scam victim.</p> <p><em>Image: Getty Images</em></p>

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Why bulk billing may be on the verge of collapse

<p dir="ltr">If you’ve noticed that trips to the doctor are getting more expensive, you’re not the only one.</p> <p dir="ltr">With a continuing decline in the number of local GPs, a shortfall of doctors trained overseas arriving in Australia, rising operating costs and plummeting revenue from Medicare rebates, many clinics have been left with no other choice than to start charging fees, including those who need their services most.</p> <p dir="ltr">Over the past decade, the average out-of-pocket expenses for GP services have risen by 60 percent, as reported by <em><a href="https://www.dailymail.co.uk/news/article-11081047/Australian-GPs-say-bulk-billing-brink-collapse.html" target="_blank" rel="noopener">The Daily Mail</a></em>.</p> <p dir="ltr">As a result, a growing number of GPs are starting to advise their patients that they can no longer bulk-bill, a practice the Royal Australian College of General Practitioners vice-president Bruce Willett says is no longer sustainable.</p> <p dir="ltr">“It’s now got to the point where practices can no longer sustain bulk billing,” he told The Australian.</p> <p dir="ltr">Director Peter Stratmann said bulk billing no longer being a viable option has resulted in the sector heading to the brink of collapse, with clinics closing and a need to charge fees to make ends meet.</p> <p dir="ltr">“We've seen practices having to close and increasingly in the last number of weeks we've seen practices impose private billing fees, because otherwise they won't make it,”  Dr Stratmann said. </p> <p dir="ltr">“They just can't make ends meet without imposing some private fees.”</p> <p dir="ltr">Dr Stratmann admitted that this will put pensioners in a difficult position and that he fears they will overwhelm the hospital system for non-urgent care.</p> <p dir="ltr">In 2021, almost nine out of ten GP visits in Australia were bulk billed with no out-of-pocket expenses for the patient, with GP bulk billing rates growing to a record high of 88.4 percent in the December quarter according to Medicare data.</p> <p dir="ltr">The news comes just days after health minister Mark Butler addressed the issues facing primary care at the annual Australasian Medical Association conference, saying it is in “worse shape than it’s been in the entire Medicare era”.</p> <p dir="ltr">“It's hard enough to get a GP right now and we know that the current generation of older GPs are pretty exhausted, particularly over the last two and a half years, and we just do not have the pipeline coming through,”  Mr Butler said.</p> <p dir="ltr">'It is probably the most terrifying trend that I see in primary care.'</p> <p dir="ltr">As part of its commitment to general practice, the federal government has established the Strengthening Medicare Taskforce, boosted by a $750 million Strengthening Medicare fund.</p> <p><span id="docs-internal-guid-8a4eaa76-7fff-8b93-4b86-3e4ae2dcce49"></span></p> <p dir="ltr">“The government is committed to ensuring Australians get the care they need, when they need it and without worrying about the cost,” Mr Butler said.</p> <p dir="ltr"><em>Image: Getty Images</em></p>

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