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Data breach numbers hit three and a half year high, OAIC says
Privacy & Cybersecurity 2024-09-16 11:02 pm By Cat Fredenburgh

The privacy regulator was alerted to hundreds of data breaches in the first half of 2024, the highest number in three and a half years, a new report shows.

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Real estate ‘mogul’ Sasha Hopkins to cop $1.25M penalty in ASIC case
ASIC 2024-09-13 11:45 pm By Cindy Cameronne

Self-described property ‘mogul’ Sasha Hopkins has agreed to pay a $1.25 million fine and face a four-year disqualification in proceedings by the corporate regulator.

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Privacy reform kicks off with new tort for ‘serious’ invasions
Privacy & Cybersecurity 2024-09-12 10:36 pm By Andy Sidler

A promised overhaul of the Privacy Act has begun with reforms that make doxxing a crime and could see businesses face new claims, including class actions, for serious invasions of privacy.

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ASIC’s former deputy chair Karen Chester cleared by corruption watchdog
Public Corruption 2024-09-12 10:03 pm By Andy Sidler

The corruption watchdog has issued a statement in response to reports suggesting ex-ASIC official Karen Chester faced an investigation, saying the deputy chair was never the subject of a probe.

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AUSTRAC claims Star walked back admissions in money laundering case
AUSTRAC 2024-09-11 11:57 pm By Cindy Cameronne

AUSTRAC has taken The Star to task for making statements that are inconsistent with admissions the casino has made in the regulator’s case over its alleged failure to comply with its money laundering obligations.

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Judge strikes out ACCC’s entire claim against Meta over crypto ads
Competition & Consumer Protection 2024-09-06 12:25 pm By Cindy Cameronne

Over objections from the ACCC, a judge has struck out the regulator’s entire case against Meta over scam cryptocurrency ads on Facebook after it clarified that each allegedly misleading ad should be a separate contravention.

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CFMEU secretary Michael O’Connor taken to court by APRA
Superannuation 2024-09-06 11:45 pm By Andy Sidler

The prudential regulator has filed court action against First Super co-chair and CFMEU manufacturing division boss Michael O’Connor, alleging he breached his director’s duties under superannuation laws when he hired a union official to work for the fund.

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Deloitte appointed administrators of Keystone despite ‘baggage’
Financial Services 2024-09-05 11:24 pm By Cindy Cameronne

A judge has ruled that two Deloitte partners can act as administrators for embattled wealth manager Keystone, replacing two voluntary administrators from KordaMentha, despite an alleged risk of conflict due to past work for the company.

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ACCC signs off on Optus, TPG network sharing deal
Competition & Consumer Protection 2024-09-05 12:27 pm By Sam Matthews

The competition watchdog has approved a blockbuster regional network sharing deal expected to boost TPG’s regional coverage as well as Optus’ 5G rollout, after rejecting a similar deal between TPG and Telstra. 

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In win for ASIC, court finds rent-to-own leases were credit agreements
Competition & Consumer Protection 2024-09-04 11:16 pm By Andy Sidler

A court has held that a “nuanced” business model used by a rental company providing long-term leases to often vulnerable consumer for household items breached the Credit Act, finding the loan agreements were in substance credit contracts. Federal Court Justice Lisa Hespe found on Wednesday that Rent4Keeps attempted to avoid being caught by the Credit…

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