The Financial Register.

Inward fraud & financial crime, explained for Gen Z

The FlashwireLatest briefing: Mastercard payments declined nationwide after scheduled system update (3:42)19:03 · 15 August

Illustration: black qwerty phone turned on in dark room
Illustration A woman in her fifties, recently widowed, met a man on a dating app who said he was a marine engineer working offshore. Picture is an illustration — a stock photograph, not the people or accounts described. Picture: Nate Smith on Unsplash
Case file

The online partner who turned a bank account into a money tunnel.

A woman in her fifties, recently widowed, met a man on a dating app who said he was a marine engineer working offshore. They spoke every day for four months.

The Financial Register

He never made a video call — the ship’s connection, he said. Then his contract payment was “held by compliance”, and he asked whether a colleague could send his wages to her account so he could pay his mother’s hospital bill. Over six weeks, eleven deposits arrived from eleven different names. She forwarded each one within a day, as asked, in amounts just under ten thousand dollars. The bank closed her account without warning on the twelfth.

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This is a live blog. Newest entries first, and it keeps updating while you read. 16 entries shown here.

Coinbase secures Abu Dhabi regulatory approval for tokenisation hub
Photograph: Fintech News Singapore
Live

Coinbase secures Abu Dhabi regulatory approval for tokenisation hub

Coinbase has secured regulatory approval from Abu Dhabi authorities to arrange investment deals and provide custody services for tokenised securities, Fintech News…

14 Aug

UK regulator, crypto exchange HTX in settlement talks over illegal marketingBanking Finance

UK regulator, crypto exchange HTX in settlement talks over illegal marketing

Britain’s Financial Conduct Authority and HTX, a cryptocurrency exchange under UK and EU sanctions, are negotiating to settle allegations that the platform illegally…

14 Aug
Philips, Shell targeted by Cl0p hacking group – reportsCybersecurity

Philips, Shell targeted by Cl0p hacking group – reports

Cl0p, a ransomware operation, posted the names of Philips and Shell on its website on August 12, saying it had stolen large amounts of data from both companies, Reuters…

14 Aug
Chinese hacker group breaches 15 govt webmail accounts while running crypto fraud schemeCybersecurity

Chinese hacker group breaches 15 govt webmail accounts while running crypto fraud scheme

The Jewelbug hacker group compromised webmail accounts across 15 government agencies in the Middle East by injecting malicious scripts into a shared webmail installation…

14 Aug
Property lobby urges South Australia to cut stamp duty on existing homesHousing

Property lobby urges South Australia to cut stamp duty on existing homes

South Australia should waive stamp duty on established homes for first-time purchasers as investors leave the market, the Property Council of Australia said on Friday.

14 Aug
Akira hackers reboot systems into Safe Mode to disable defensesRansomware

Akira hackers reboot systems into Safe Mode to disable defenses

An Akira ransomware affiliate rebooted a compromised machine into Windows Safe Mode to disable security tools and steal data, cybersecurity firm Huntress reported.

14 Aug
Investors sue Selena Gomez alleging fraud over collapsed startupFraud

Investors sue Selena Gomez alleging fraud over collapsed startup

Five investors have sued pop star Selena Gomez in Delaware federal court alleging fraud over the collapse of her mental-health startup Wondermind Global, Bloomberg…

14 Aug
Ukraine shuts down 94 fraud call centers in cross-border sweepInvestment Fraud

Ukraine shuts down 94 fraud call centers in cross-border sweep

Ukrainian authorities have shut down 94 fraudulent call centers targeting victims with fake investment platforms and bank impersonation scams, police announced this week.

14 Aug
Hacking group claims theft of data from nearly 50 companies including Shell, Philips, GECybersecurity

Hacking group claims theft of data from nearly 50 companies including Shell, Philips, GE

A prolific hacking group known as Cl0p claimed on Wednesday it had stolen large volumes of data from nearly 50 companies worldwide, including energy giant Shell, medical…

14 Aug
Trump administration allows private firms to attack cybercrime groupsCybersecurity

Trump administration allows private firms to attack cybercrime groups

President Donald Trump signed a presidential memorandum on Wednesday allowing vetted private companies to launch offensive cyber operations against transnational…

14 Aug
Telstra announces A$1 billion buyback, reports modest profit riseTelstra

Telstra announces A$1 billion buyback, reports modest profit rise

Australia’s Telstra Group announced a A$1 billion share buyback on Thursday and reported annual profit of A$2.24 billion for the year ended June 30, up 3.2 per cent from…

13 Aug
More than 500 fake VPN extensions remain on Chrome Web StoreCybersecurity

More than 500 fake VPN extensions remain on Chrome Web Store

More than 737 fake Chrome VPN extensions impersonating Proton VPN, NordVPN, Surfshark and ExpressVPN routed users’ traffic through SOCKS5 proxies operated by a single…

13 Aug
Australia's smelter bailouts cost $2.5 million per job, dwarfing AI policy spendingGovernment Subsidy

Australia's smelter bailouts cost $2.5 million per job, dwarfing AI policy spending

The Albanese government has committed $2.5 billion to keep Rio Tinto’s Tomago aluminium smelter operating near Newcastle, protecting 1000 jobs at a cost of $2.5 million…

13 Aug
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The newsletter · free, every morning

The pitches that landed in Australian accounts today.

Every morning: the exact wording criminals used, which banks and platforms were named, and what was done about it. Read today’s issue before you decide.

Six ways money arrives before the trouble does

Different pitches, one mechanism: your account receives money that isn’t yours, and you are asked to move it on.

Money mulesA stranger → your account → goneA strangerYOUGone

Someone else’s money, moving through your account, in your name.

You keep a small cut. The bank keeps the whole record. When police read that record, the name on it is yours.

See what this means for you
Romance scamsYour “partner” → your account → goneYour “partner”YOUGone

The person who loves you needs your bank account.

Months of messages, then one small favour: receive this money, and send it on. The romance was the recruitment.

See what this means for you
Remote-access “refund” scamsA “refund” → your account → goneA “refund”YOUGone

They refunded you too much. Now they want the difference back.

The extra money on your screen came from another victim — or from your own savings, moved between your own accounts while you watched.

See what this means for you
“Quick cash” job scamsAn “employer” → your account → goneAn “employer”YOUGone

The job is real money. The employer is not.

No interview, no ABN, no office — just your bank details and $500 a week to “process payments” from home.

See what this means for you
Student scamsA classmate → your account → goneA classmateYOUGone

The ad on the campus noticeboard only needs your bank account.

International students are targeted hardest, because a visa condition makes the threat of “trouble with the authorities” do all the work.

See what this means for you
Diaspora-targeted scamsA contact → your account → goneA contactYOUGone

The call comes in your language, from someone who knows your paperwork.

Fake embassy fines, fake immigration officers, fake remittance agents — the trust of a shared community, used as a tool.

See what this means for you

Where we stand

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Bylined, and corrected in public

Case files and explainers carry an editor’s name. Corrections are published on the page they correct, not quietly deleted.

The daily briefing

The pitches that landed in Australian accounts today.

One email, every morning. The exact wording criminals used, the accounts they targeted, and what your bank did about it. No fear, no filler, no sponsored “recovery services”.

  • The exact wording used, quoted from real messages
  • Which banks and platforms were named, and what they did
  • One thing to check on your own accounts, in under a minute
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