BFCSA Blog

Hockey to fight tax dodgers and organised criminals with new taskforce ABC News James Glenday5 hrs ago  "This type of crime (white collar crimes) poses a genuine threat to national security," Treasurer Joe Hockey said. The Abbott Government is setting up a new financial crime taskforce to tackle tax dodgers, fraudsters and organised criminals. The Serious Financial Crime Taskforce will build on the Project Wickenby tax avoidance investigation, which ends this year. But it will also have a broader goal of fighting other serious white collar crimes, like superannuation and investment fraud, and identity offences. "This type of crime poses a genuine threat to national security and to the integrity of Australia's economy, financial markets, regulatory frameworks and tax revenue collection", Treasurer Joe Hockey said in a statement. The taskforce will get $127.6 million over four years for investigations and prosecutions. Agencies like the Australian Tax Office (ATO), Australian Federal Police,...

MY COMMENT  This email address is being protected from spambots. You need JavaScript enabled to view it.  APRA has ordered LAZY/CORRUPT ASIC to take a "Bo Peep at TOXIC LENDING!" The moment of truth is bubbling (at last) to the surface.  BFCSA has been gathering victims of unaffordable loans together for years and complaining to three Chairmen of ASIC re these Interest Only 30 year loans sold to pensioner and low income families.  BFCSA have, with assistance from an economist and editor, been explaining the impact for the banking sector to four Inquiries this year.  ASIC read my February report and evidence in chief in Senate Inquiry into ASIC.  Medcraft in denial.  Now after Sept figures they claim they want to give surveillance next year?  Where is the Consumer Protection?  ASIC is conflicted in protecting big end of town with the interests of Mums and Dads left in a closed file - for years.  BFCSA subs to Murray, Fawcett and recently Dastyari Inquiries explain in...