Native title groups are potentially being swindled of millions of dollars a year when handing hard-won money over to trustee companies to manage.
There’s recently been a Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. The Commission’s findings were damning, revealing that banks and financial services have been pursuing short-term profit at the expense of basic standards of honesty. There’s also been an absence of punishment for misconduct.
This isn’t only happening in the superannuation industry.