Drugs, money laundering, scams drives crackdown on crypto ATMs
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Australian authorities are cracking down on cryptocurrency ATMs, warning the rapid growth of the industry is fuelled by criminal activity, with concerns as many as one in 10 transactions are being used for criminal or illegitimate purposes.
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News.com.au
19 minutes ago
- News.com.au
‘Scandalous': Number of high net worth Australians outpaces economic growth
The wealth of Australia's millionaires and billionaires significantly outpaced economic growth in 2024, new analysis shows. Research from French multinational business consultancy firm, Capgemini, shows 334,800 Australians are now deemed 'high net worth individuals', up 0.5 per cent last year. Just under 10 per cent of those people have investable assets between $US5m-$US30m. There are now 2450 Australians with investable assets over $US30m. The total wealth of high net worth Australians grew 3.3 per cent in 2024, the report shows, while the Australian economy grew just 1.3 per cent for the year. The Capgemini report, released this week, also throws up a broad view of how the wealthy will pass on their riches, and how their children are likely to invest the funds. In the next two decades, globally some $128 trillion will change hands by inheritance, Capgemini estimates. The inheriting generation are more open to risk, Capgemini says, and advises wealth and asset managers to prepare for the change in appetite. Separate analysis released this week by Oxfam shows the number of Australian billionaires has doubled in the space of a decade to 161. 'This level of inequality is not just morally wrong – it's economically and socially dangerous,' Oxfam Australia acting chief executive Chrisanta Muli said. 'While millions of Australians are struggling to make ends meet, the country's richest continue to amass eye-watering fortunes, often without lifting a finger.' In the past decade, the wealth of Australia's richest 200 people has risen 160 per cent to $667bn, Oxfam says. 'It is scandalous and unjust that property continues to be one of the biggest drivers of wealth across the decade while over 99 per cent of rentals are unaffordable for people earning a full-time minimum wage,' Dr Muli said.
Daily Telegraph
23 minutes ago
- Daily Telegraph
Dubbo previews: Lundholm's Blue De Beers set for Silver Goblet glory
Don't miss out on the headlines from Horse Racing. Followed categories will be added to My News. Trainer Clint Lundholm is chasing his fourth Silver Goblet with a two-year-old that boasts Golden Slipper winner Pierro as a close family member. Lundholm's colt, Blue De Beers, is out of a mare named Arabian Diamond. A Lonhro herself like Pierro, both Arabian Diamond and the 2012 Two-Year-Old Triple Crown winner share the English stakes-winner Criquette as their second and third dam respectively. Pierro famously won the Breeders' Plate on debut, now it's up to Blue De Beers to show what he's got when he makes his own debut in one of the Central West's most coveted juvenile features, the Kings Hall Jewellers Showcase Silver Goblet 2YO Handicap (1100m). 'He's a very nice horse,' Lundholm said. The Form: Complete NSW Racing thoroughbred form, including video replays and all you need to know about every horse, jockey and trainer. Find a winner here! 'He's been set for this race a good while ago. He didn't qualify for the Inglis race at Scone so we ear-tagged this race to target with him. 'He has trialled very well and had another unofficial jumpout after his second trial just to keep him up to the mark and we are really happy with him going to the races. 'I am not too worried about the (outside) draw. 'Over 1100m here at Dubbo, you come around one corner for home anyway so it doesn't concern me too much. 'I don't think it is against him anyway.' Lundholm is represented by five horses across four races and while not enough to reach a certain milestone, a big day could edge him closer. The record shows that Lundholm's present tally of winners at his home circuit is 194. One of the trainer's string looking for their first Dubbo win is Willinga Karisma who aims to snap a sequence of two consecutive seconds when she tackles the Winter Country Classic Qualifier (1300m). 'She had a very tough run last start,' Lundholm explained. 'She got caught wide but was game and stuck on quite well. We've taken the claim this time around, she's got as soft draw, so she does look well-placed.' Willinga Karisma will be joined in her quest in this week's qualifier by the sturdy Stratum Star mare, Avalicous. 'At 1300m first-up, she is probably wanting the run but she has got a soft draw and she makes her own luck,' her trainer said. 'She'll run well but I think she will improve from the run.' Lundholm, meanwhile, aims to play a role in the hotly contested Showcase Benchmark 82 Handicap via the Widden Stud/Peter Frampton-owned and bred Starlink who resumes in the 1000m sprint. 'She was a little bit disappointing early in her preparation last time around and then she came out and pulled off a really impressive win at her last start,' Lundholm said. 'Then she had a little bit of an injury and went to the paddock. 'She's returned in great shape. She seems to be nice and sound.' Lundholm and Kody Nestor combine twice starting with Blue De Beers in the Silver Goblet, followed by Macchina Volante in the Benchmark 82 Handicap (1400m). This will be Nestor's first ride on the horse whose name translates into 'flying machine'. 'He finds conditions to suit,' said Lundholm. 'He will run a good race, he'll be honest. 'We're setting him for some for the county west cups coming over the winter.' ■ ■ ■ ■ ■ Local gelding Cumnock's days as a Highway participant will come to an end if he can topple his rivals, all of them with significantly higher benchmark ratings, in the hotly contested sprint. The Brett Thompson-trained, Bob Slack-Smith-bred five-year-old was saved a near 800km round trip this weekend when dealt with the almost impossible predicament of fifth emergency (and barrier 21) for Saturday's Highway at Randwick. Instead, Cumnock, the horse with a thoroughly misleading Benchmark Rating of 60, takes on a couple of 77 raters in the Fardells Showcase Benchmark 82 Handicap (1000m) at his home ground. 'I don't know why he is so low in the benchmarks because it's not like he has been an inconsistent horse,' Thompson said. 'Anyway, I'm not whinging. There's times when you want to be low in the benchmarks and times when you want to be higher.' Cumnock was successful in gaining a start in consecutive Highways in July last year, finishing fourth to Clear Thinking and Tanglewood in one and a fifth to Lonhro's Queen in the other. Cumnock will be ridden by champion country jockey Mathew Cahill who is also tasked with the quest of helping the tough and reliable filly Sorrento Palace snap a sequence of three straight second placings. 'She is going super,' Thompson reported. 'She's just been drawing terrible gates so we've been scratching, scratching, scratching trying to wait until she draws a gate and she's drawn a gate now so we've just to hope she can do the job for us which I think she can.' Thompson combines with inaugural Country Championships Final winning jockey Mitchell Bell in the Country Classic Qualifier for the boys where Hammering Away seeks to nail his third career win. The well-bred chestnut boasts some deep form having mixed and matched with some above-average types on the way through including Rothgate whom he stretched to a neck last spring. 'He is a horse that always tries,' Thompson said. 'I thought it was a pretty good to run there first-up at Parkes the other day. 'I think the extra ground will help him, we have got a good jockey on, he's a good each-way bet.'
Daily Telegraph
23 minutes ago
- Daily Telegraph
Kathleen Folbigg forced to sleep on friend's couch two years after being freed from jail
Don't miss out on the headlines from Real Life. Followed categories will be added to My News. Kathleen Folbigg has been forced to sleep on her friend's couch, unable to secure herself a rental property and with no assistance from the NSW Government despite being unjustly locked up for two decades. It's been two years today since Ms Folbigg was released from prison having been locked up for murdering her three youngest children, Patrick, Sarah and Laura, and the manslaughter of her oldest child, Caleb, between 1989 and 1999. In 2023 the NSW Court of Criminal Appeal overturned her convictions on all charges, accepting that new scientific evidence raised doubt over her guilt. Ms Folbigg told this week she is adapting to life outside, but the financial and emotional pressures have at times been overwhelming. Kathleen Folbigg has been struggling financially and emotionally since being released from jail. 'I've moved back into Newcastle, returning back to where I went to high school and stuff but I just can't find a rental, it's so hard and I guess I'm single, have a dog, no job,' she said. 'I've been lucky enough that my friend has let me put my stuff in storage and sleep on the couch. 'It's two years down the track so yeah I feel like things can be a bit of a struggle.' Ms Folbigg's legal team has had no word for a year from the NSW Government about her bid for compensation. High-profile supporter, businessman Peter Yates told the delay was 'morally wrong'. 'Since she was released she has received not even a tissue, not one cent, not one dollar, not a care package, absolutely nothing,' Mr Yates said. Kathleen Folbigg with NSW MPs Wes Fang, Mark Banasiak, Robert Borsak, and Stephen Lawrence on Thursday. Kathleen folbigg at Parliament House with two vocal supporters Mark Rudder, left and Peter Yates. 'The NSW Government incarcerated her for 20 years, released her two years ago, pardoned her more than a year ago and they have not offered, provided or paid a single cent of compensation. 'Not even a thought of 'here is some money to tie you over while we think about compensation'. It's a slight on the NSW Government. Ms Folbigg, Mr Yates and other supporters were having lunch at Parliament House in Sydney on Thursday to remind 'both sides of politics' of Ms Folbigg's plight. Ms Folbigg with her baby daughter Sarah at her naming ceremony. Sarah died 30 Aug 1993. Folbigg plans on spending her future advocating for others, and pushing for police departments to think of genetic testing as the 'first stop not the last stop'. Ms Folbigg's daughter Laura. Baby Caleb Folbigg. 'What happened to me could happen to anyone. I had an extremely rare condition that couldn't be found until this genetic testing became available and what's to say it won't happen to someone else. It won't be found until there is standard genetic testing,' she said. 'Genetic testing should be cheaper for anyone who wants to double check they don't have something abnormal like I did, and in my case the worst happened. 'If you're going to accuse a parent of harming a child, the first stop should be going down the genetic road, not the last stop which landed me in jail for 20 years.' 'My message is if zealous prosecutors and detectives target a person, and not have any actual proof, if you're going to target a person we should stop and learn from the Folbigg case.' Attorney-General Michael Daley told the NSW Government is still considering an ex-gratia application made by Kathleen Folbigg. Originally published as Kathleen Folbigg forced to sleep on friend's couch two years after being freed from jail
