Australians are still reeling from the revelations of the royal commission chaired by Kenneth Hayne QC into the misconduct by advisers, banks and the priority placed on profit rather than principle by Australia’s largest businesses. Scandals keep surfacing, banks keep apologising and regulators keep talking tough and pursuing cases through courts. The financial institutions, however, are not the only source of rorting and ripping off that consumers face.
That year of bankers, brokers and corrupted processes did not focus on other areas in which Australians are exposed to risks of rorts and rip offs that may be regarded as bad – if not worse – than the misdeeds committed to satiate the lust for cash that were unveiled to Australians in the year-long theatrical extravaganza that was the Hayne Royal Commission.
Hackers in hoodies, fake lovers on dating sites, providers of illegal financial or tax advice and promoters of dud investment schemes are complicit in drawing vulnerable people into their web of misery that results in serious financial loss.
Tom Ravlic, the author of Vulture City – How Our Bankers Got Rich on Swindles, looks at the consumer landscape and draws on case studies, government reports and his own experience over a quarter of a century in dealing with financial services professionals to provide readers with insight into the techniques and sleight of hand used by crooks, charlatans and thieves to siphon funds from honest, hard -working Australians. The book also offers tips and strategies to minimise the risk of becoming a victim.
