Australia - Paradise For Control Fraud

Banks Use Fraud To Boost Profits

Summary: 

The performance of ASIC in regulating financial fraud remains under question, despite Chairman Greg Medcraft’s recanted statement that Australia is a “paradise” for white-collar criminals. Philip Soos gives a clear explanation of how banks use crooked accounting to steal money from customers and shareholders. Control Fraud is the name of the game.  Why do our politicians allow this to damage our economy and our people?

Article Information
Category: 
Banking Company: 
Banks in General
Bank Malpractice Type: 
Corruption
Unconscionable Conduct
Author: 
Philip Soos
Source: 
The Conversation
Date First Published: 
30 Oct 2014
Posted By
Peter Brandson
Peter Brandson's picture

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