Knowledge hub for financial crime data for the benefit of business, government and law enforcement sectors.
The McGrathNicol Financial Crime Exchange (FCX) is a knowledge hub for financial crime data for the benefit of business, government and law enforcement sectors. It aims to reduce the risks and impact of financial crime in modern business by leveraging and applying past experience to contemporary business practice.
Financial crime cuts across all industry sectors and talks to the heart of business, culture, profitability, trust and confidence. McGrathNicol FCX aims to assist businesses in their understanding, awareness and identification of risks which undermine the successful operation of business. FCX also aims to reduce the risks and impact of financial crime in modern business by leveraging and applying past experience to contemporary business practice.
ASIC investigation leads to 6 years’ jail sentence for former financial adviser
26 May 2021
Former financial adviser Ross Andrew Hopkins has been sentenced to a maximum six years in prison. Over a period of nearly three years, he misappropriated $2.9 million of his clients’ funds without their knowledge, and used their funds for his own benefit, such as holidays, rent, paying his own credit card debts and repaying personal loans.
Smishing: The new scam fleecing Aussie victims of thousands
20 May 2021
Australians are being inundated by a new form of scam whereby victims are sent text messages asking for them to share personal details which are then on-sold. The scam involves cyber criminals impersonating legitimate organisations such as banks or delivery companies and request mobile phone users to click a link.
Police charge woman over $250,000 fraud of not-for-profit treatment centre
20 May 2021
A woman will face court next month charged by Inner West detectives after she allegedly defrauded a not-for-profit treatment centre of almost $250,000. It is alleged that fraudulent expense forms had been submitted for a patient who had passed away and were allegedly paid into an employee’s bank account.
Macquarie magic: How a consultant turned $3000 into $80 million in Nuix float
19 May 2021
Gaps in the records of tech company Nuix have raised questions about former finance professor Anthony Castagna’s $3000 investment, which he turned into an $80 million windfall. The company may have failed to record Dr Castagna’s $3000 options package that he cashed out for $80 million, when Nuix listed on the sharemarket last December. It also raises questions about whether the company backdated the...
Make-up artist Olivia Rodgers gave multiple reasons as to why she stole $65,000 from former employer, court hears
15 May 2021
Olivia Rose Rodgers has admitted to stealing $65,000 from Bupa Health Insurance. The court heard the 31-year-old made multiple false insurance claims on behalf of family and friends, but she was the sole beneficiary of the money.
McGrathNicol’s Financial Crime Exchange (FCX) is currently collaborating with the University of New South Wales in a two year project to research occupational fraud in Australian business. Find out more about it here.