Recognising Phishing Scams: How to Protect Yourself from Online Threats. Learn to identify phishing tactics, spot suspicious URLs, and be cautious of urgent requests. Stay secure with two-factor authentication (2FA) and adopt best practices to safeguard your digital identity from online fraud. Protect yourself from cybercriminals seeking to exploit your personal information and financial details.
Understanding Cryptocurrency Security: Safeguarding Your Digital Assets. Learn about blockchain technology, private keys, wallet security, and secure communication protocols. Discover ways to protect your cryptocurrencies from phishing scams and stay updated with software releases. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Invest wisely and seek professional guidance for secure cryptocurrency investments.
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of FTX Australia Pty Ltd (FTX Australia). The cancellation comes after FTX Australia was placed into voluntary administration on 11 November 2022. ASIC suspended FTX Australia’s AFS licence on 14 November 2022, and the suspension was subsequently extended to 24 July 2023.
National Australia Bank (NAB) has announced that it will be blocking transfers to cryptocurrency exchanges, following in the footsteps of other Australian banks including Westpac and the Commonwealth Bank of Australia. The bank cited concerns about the risks associated with cryptocurrency trading, including volatility, fraud, and money laundering.
NAB’s decision is likely to have a significant impact on the Australian cryptocurrency market, making it more difficult for Australians to buy and sell cryptocurrencies. The bank is the largest in Australia by market capitalization, and its decision could push other banks to follow suit.
The proposed removal of tax deductions for tax advice expenses in self-managed superannuation funds (SMSFs) has raised concerns about increased costs for SMSF owners. This potential change could impact the financial burden on trustees, particularly those with smaller funds who rely on external professionals for taxation advice. The Australian Taxation Office (ATO) reports that approximately 75% of SMSFs use external professionals, making the loss of the tax deduction a significant concern. Critics argue that this change may discourage individuals from establishing or maintaining SMSFs, limiting their flexibility in managing retirement savings. As discussions on tax reform continue, policymakers should carefully consider the impact on the SMSF sector and explore alternative approaches to strike a balance between revenue considerations and the needs of trustees and members.
