April 2, 2025

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Investment

FMA criticised for delayed investment scam warning after retiree loses $1m

  • March 31, 2025

Victim Steven Fan, whose $1m retirement savings were never recovered, is appalled by the delay. He questions whether FMA staff failed to act sooner because they were on Christmas holiday. “Something like a scam is urgent, isn’t it? “I do question that. It is a bit slow. The horse is out the gate already.” The

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Banking

Banking Ombudsman launches investigation after ANZ helped customer send $250k to scammers

  • March 27, 2025

The victim’s total losses were $550,000 – over the Banking Ombudsman Scheme’s financial threshold. However, ANZ has agreed to waive the limit to enable the investigation to proceed – despite refusing to do so in another $1 million fraud case. The ombudsman’s probe follows a Herald investigation into the case, in which Kate lost her

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