Financial abuse happens when someone is controlling with money and assets. It’s a serious problem that can happen to anyone at any age, regardless of your wealth, ethnic background, gender, age or ability. It can manifest as economic control – like a carer denying a person access to their money, or a spouse making financial decisions for their partner without consulting them. Or it can be through financial exploitation, such as an independent adult child...
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First-time buyers and younger homeowners are at increasingly high risk of cyber crime. According to Experian, the number of financial applications made by third party fraudsters between January and June was 14% higher when compared with the same time in 2018. Third party fraud occurs when sensitive information is stolen from a person and used without their knowledge and against their wishes. This type of fraud is prominent online with cyber criminals using social engineering...
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A woman whose house and identity was stolen by overseas scammers has been forced to sue the government to retrieve her money. International fraudsters, who are still at large, pocketed $430,000 when they sold the four-bedroom Canberra house in 2014 in a sophisticated scam spanning several months and countries, including South Africa, Australia and Indonesia. Fresh details of the crime were aired in the ACT Supreme Court last week, as court documents reveal the thieves...
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An article by Jennifer Duke “In Victoria underquoting is endemic, rampant, it’s grubby, it’s misleading and deceptive and it’s a fraud on home buyers,” explained Rowe. “Consumer Affairs Victoria lacks the necessary laws and resources to police underquoting. Real estate agents enjoy the luxury of loop holes in the rules to bait home buyers into attending auctions which are outside their budget. This frustrates buyers. Underquoting causes home buyers to waste their time, money and...
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An article by JENNIFER DUKE Carrum Downs couple Maureen Gael Johnson, 58, and Douglas Gordon Johnston, 71, have been charged with more than 70 offences relating to an alleged $1.5 million property development fraud, following an investigation by the Australian Securities and Investments Commission (ASIC). ASIC investigated two companies: Investman Nominees (USA) Pty Ltd and Small Business Management Pty Ltd, of which Maureen Johnston was a former director and current director respectively. Douglas Johnston was the...
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A newspaper report brings to light one of the perennial problems in real estate – the real estate agent valuation or “appraisal”. It is common practice for real estate agents to overstate the value of real estate in order to win a listing, and then “condition” the vendor into accepting a lower price. Few consumers ever complain about the practice, and the real estate agent is usually able to brush away a complaint with the...
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Three men have been charged over a property fraud in Western Australia that saw them allegedly steal over $6 million. The Major Fraud Squad has reported that a 70 year-old York man and a 43 year-old south Perth man have each been arrested for six counts of causing detriment to a person by fraud. Another 45 year-old York man has also been charged with four counts. The charges relate to the sale of six rural...
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