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3 April 2023

How to protect yourself against scams

The Australian Banking Association (ABA) has launched a new campaign to raise awareness about scams. This is a very topical issue, with Scamwatch receiving 14,603 reports about bank impersonation scams in 2022, resulting in more than $20 million in losses, according to the Australian Competition & Consumer Commission. The ABA ads include these key messages: …

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ATO orders banks to provide data on property investors

Property investors have been put on notice, after the Australian Taxation Office (ATO) said it would scrutinise their tax returns in an attempt to claw back an estimated $1.3 billion in missing taxes. The ATO told The Guardian that it would use “formal information gathering powers” to compel 17 financial institutions – including all the …

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Refinancing activity goes from strength to strength

The home loan refinancing boom, which has lasted for two years and counting, has reached record levels. Refinancing activity has dramatically increased during that time from $13.7 billion worth in February 2021 to $16.2 billion in February 2022 and, now, according to the latest Australian Bureau of Statistics data, a record $19.9 billion in February …

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