In this episode, Paige Estritori discusses the latest in Australian financial services. Topics include ASIC's continued crackdown on scam sites; over ten thousand fraudulent websites have been shut down, including the high-profile Quantum AI scam. Australians reported scam losses of over $192 million last year, but ASIC's efforts have recouped $46.6 million in civil penalties with thirteen criminal convictions. The Insurance Council of Australia proposes a $30.15 billion flood defence fund to mitigate the effects of the nation's devastating floods. Also, Prime Minister, Anthony Albanese's personal stance on negative gearing sparks new debate about property benefits, housing affordability, and tax incentives. Lastly, former RBA governor, Philip Lowe, argues that stagnant productivity, not high interest rates, is the root of economic challenges, emphasizing the importance of productivity for wage growth amidst inflation.n
