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Security of Super Funds

Discussion in 'Medium/Long Term Investing' started by KnightsTour, Jun 26, 2019.

  1. KnightsTour

    KnightsTour

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    I heard there was a breach in First State Super a few years ago. If money is stolen from a super account, is there a recourse to get it back? If not, doesn't that mean some funds with better security systems should be preferred?
     
  2. Lantern

    Lantern

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    Do you trust politicians with anything they say?
     
    qldfrog likes this.
  3. Zaxon

    Zaxon The voice of reason

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    I can't speak to money stolen from super specifically, but I did recently see a report of an accountant who stole money from his clients. Although the money was recoverable, the federal police seized the stolen funds under the Proceeds of Crime legislation, for themselves. The victims got none of it back.
     
  4. sptrawler

    sptrawler

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    And that is exactly why I run my SMSF, giving my hard earned money to someone to look after it, on the hope it will be there when I want it. I don't think so.
     
    Skate and StockyGuy like this.
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