Superfunds in 'race against the clock' to deliver super payments amid AFP investigation | Sky News Australia

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Newscorp Personal Finance Writer Sophie Elsworth says fraudulent activity has been a concern for the superfunds “for weeks” as they are in a “race against the clock” to allow members early access to their super.

| The AFP has been called in to investigate criminal activity surrounding the government’s early access to super scheme, which was designed to provide some financial relief amid the coronavirus crisis. Ms Elsworth told Sky News it is believed about 150 people have been impacted by online hackers with about $120,000 stolen from members.

She said there would be delays for people awaiting payments as the Australian Taxation Office halted processing applications, on Friday, although applications were still being received. “The superfunds are on high alert,” she said. “There is a lot of pressure on them but they have to be extremely careful because if the money gets into the wrong hands – it’s incredibly hard to get it back and no doubt the superfund will be the one who wears the loss.

 

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wonder how much it will cost the Gov and ATO for failing to double check applications on class action lawsuits, pisspoor conditions that fraudsters only could of dreamed of. 🤣🤣 billshortenmp

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