Crime Prevention
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Changes to corporate offence penalties must be carefully considered: Business Council
First 5000 | January 2, 2019Labor’s plan to ignore the expert ASIC Enforcement Review Taskforce and arbitrarily increase penalties for corporate offences is unnecessary regulatory overeach, according to Business Council chief executive Jennifer Westacott.
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A “director identifier” system is long overdue
First 5000 | November 2, 2018Laws to create a Director Identifier Number system (‘DIN’) are one step closer but cutting red tape for building and construction businesses must remain top of the agenda.
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Crackdown on fake ‘Australian’ ugg boots
First 5000 | October 27, 2018Ozwear Connection, a wholesaler of footwear and accessories in Australia, is the latest company to fall foul of regulations on the misrepresentation of product origins.
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ASIC contracts with financial services deter misconduct
First 5000 | October 26, 2018A UNSW study has found that financial services and credit providers fear being sanctioned by Enforceable Undertakings, despite speculation that the regulatory contracts are ineffective.
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Birubi Art misled consumers over fake Indigenous products
First 5000 | October 25, 2018Companies which sell tourist souvenirs manufactured abroad as genuine indigenous artifacts should take pause after a Queensland company was found guilty of deception in Federal Court.
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Illegal ‘phoenixing’ activities spelt out in draft legislation
First 5000 | August 26, 2018A proposed package of reforms to tackle illegal ‘phoenixing’ should reduce the number of business owners who close a firm to escape their creditors before opening up again under a different name.
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IBAC reveals corruption threats to Victorian regulators
First 5000 | July 28, 2018Victoria’s anti-corruption agency, IBAC, has identified key corruption risks associated with activities undertaken by the state’s regulatory authorities in a new report.
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Five steps business can take to ensure aggressive performance targets don’t drive bad behaviour
Tim O'Shannassy | July 24, 2018The pressure to perform and hit targets can lead to people taking short cuts which cross ethical and legal red lines, with unfortunate consequences for the individual and the business if remedial action is not taken in time.
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Businesses remain ill-prepared to meet information security challenges
First 5000 | June 23, 2018Businesses in Australia need to lift their game if they are to meet the high expectations of their customers around information security.
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Australians lost $340 million to scammers in 2017
First 5000 | May 22, 2018Australians lost more money to scammers in 2017 than in any other year since the ACCC began reporting on scam activity.
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5 steps to meet your beneficial owner obligations
First 5000 | February 9, 2018A new guide to help businesses understand and comply with their beneficial owner identification requirements has been released by the Australian Transaction Reports and Analysis Centre.