Comments on: SUBSCRIBER-ONLY: How to get Computershare to sign over $15m in stocks.

By: Jacqui Walker

Jacqui Walker — Sat, 04 Jul 2009 08:12:21 +0000

Hi Andrew, We did a story on Thursday on Computershare, ASIC and the regulations. We got a response from Computershare. Take a look.

By: Gary McCluskey

Gary McCluskey — Sat, 04 Jul 2009 04:51:23 +0000

As I spend part of my working daylooking up share registery information for clients for various reasons. I find this fraud shocking but not unexpected. As fraudsters when they set their collective minds to mischief will always find a way to obtain you assets health and wellbeing. So please guard your personal information and details as you would your children.

By: Andrew Knight

Andrew Knight — Fri, 03 Jul 2009 10:21:42 +0000

Keith - Not the best analogy. Banks do send statements with an account number printed on it, which in theory could be used in a fraudulent direct debit. Admittedly the fraudster would need to be sponsored into the direct debit system as a merchant.

Of course Link Market Services also allowed this woman to complete a fraudulent transaction, albeit for a much smaller sum of money. What this article doesn’t mention is that there’s a lot more ASIC could be doing to better regulate the off-market transfer system. There’s an article over at The Age presently which mentions the “Bud Gerigar” incident and shares being transferred into non-existant entities, for example.

By: jamesmmoylan

jamesmmoylan — Fri, 03 Jul 2009 05:55:58 +0000

PS - As a Lw student I’ve just been discussing the civil liability nightmare that this case poses in another place.

Consider: Will the owners in the Investment vehicle have to be outed if subrogated recovery actions are undertaken against third parties? Will this lessen the likelihood that such recovery efforts will be undertaken? (Who the hell has an honest interest in a Bahama based investment vehicle?)

By: jamesmmoylan

jamesmmoylan — Fri, 03 Jul 2009 05:51:11 +0000

Hey, I’ve got title to this bridge…

Mari sure is one cunning dude. And lets face it, scruples just ain’t worth their keep.

(now where can I buy a half decent bottle of sociopath?)

By: keith P

keith P — Fri, 03 Jul 2009 05:18:46 +0000

Computershare include your SRN on every bit of paper they send you. Imagine if banks did something similar and printed your ATM PIN on every bank statement.

By: John Bennetts

John Bennetts — Fri, 03 Jul 2009 04:45:10 +0000

And Computershare look after the bulk of Australia’s share registers? Amazing! I’m gobsmacked.