Noel Whittaker is the author of Wills, Death & Taxes Made Simple and numerous other books on personal finance. Email: [email protected]​

As we welcome 2025, it’s time to recognise those who made unique (and often crooked) contributions to the world of money in 2024. Here are the worthy recipients of the annual Whitt Awards — celebrating both villainy and shocking incompetence in finance.

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[Cheezil]

NW for PM

 

[GranniCaz]

Again and again and AGAIN; where are the REGULATORS and WHO is regulating the regulators??

 

[gamiry]

Optus up to it again but why is there no mention of Telstra selling phones to Qld people living in the same areas where mobiles and internet don't work.

 

[Daibhin]

These companies should be fined so hard, an amount that brings them to the possibility of ruin, that they would never try the dirty tricks ever again, with a special special fine for the top dog who has caused , or allowed, the situation to arise -- take away his/her fancy cars, yachts or other luxuries that are not essential to life. Hit them where it hurts.

 

[GranniCaz]

These companies should be fined so hard, an amount that brings them to the possibility of ruin, that they would never try the dirty tricks ever again, with a special special fine for the top dog who has caused , or allowed, the situation to arise -- take away his/her fancy cars, yachts or other luxuries that are not essential to life. Hit them where it hurts.

Regulators??? Asleep at the wheel… unaccountable??…. Derelict of duty ????

 

[Daibhin]

Optus up to it again but why is there no mention of Telstra selling phones to Qld people living in the same areas where mobiles and internet don't work.

That is in the article about selling to indigenous people in areas where there is no internet, as well as having sold the plan to a deaf and mute person, although he/she would be able to use the text messaging and email if there is an internet presence.

 

[Ol Ethel]

Wow!! The mind wobbles!!!

 

[Col@45]

Well done for exposing these crooks....probably a lot more out there too.

 

[Jo Piper3]

Thank you Noel for your article - very interesting and scary.

 

[Veggiepatch]

Virtical Pty Ltd has been in liquidation since 18 October 2024.

Former director of Virtical, John Palasy, who was the "mastermind" behind the non payment of staff superannuation and fake GST claims has previously been a declared bankrupt TWICE!

I thought there were laws prohibiting an individual from holding a senior position within an organisation after being declared a bankrupt. Am I in error here?

 

[Morgans Orchard]

All they have to do these days is SAY …SORRYYYY. Well SORRy doesn’t cut it as far as I’m concerned . If I don’t pay my accounts by the due date I can be charged 15% plus for late payment . BUT they can overcharge me all I get is Sorry . When businesses start getting a heavy fine for their mistakes along with the apology we might see less corruption .
The trouble is too many people sitting in top jobs on big fat salaries too busy discussing what they did last night and what they are going to do tonight instead of paying attention to the regulating they are supposed to do.

 

[Debster10]

How is Hesta industry fund able to keep people’s money for three weeks either as a massive deposit from a bank account to their super or as a massive withdrawal needed from one’s super to their bank account? The monies are supposedly in your account after five business days and in every situation on the fourth day another email arrives saying they require more information - info they’ve had for a couple of weeks with screenshots and verifications sent daily..It’s clearly a deliberate delaying action to hold everybody’s funds and I’m talking tens of thousands of dollars . Imagine if this is happening to everybody in this fund. This cannot be legal.. saying we need more information every few days the email says your money will be processed. But it never is….where is the money?

 

[Jo Piper3]

How is Hesta industry fund able to keep people’s money for three weeks either as a massive deposit from a bank account to their super or as a massive withdrawal needed from one’s super to their bank account? The monies are supposedly in your account after five business days and in every situation on the fourth day another email arrives saying they require more information - info they’ve had for a couple of weeks with screenshots and verifications sent daily..It’s clearly a deliberate delaying action to hold everybody’s funds and I’m talking tens of thousands of dollars . Imagine if this is happening to everybody in this fund. This cannot be legal.. saying we need more information every few days the email says your money will be processed. But it never is….where is the money?

I had Super with HESTA and had no problem withdrawing my balance. They were most helpful with providing me with account statements.

 

[Carol]

Thankyou NW.

 

[deni67]

My partner was able to take his super out about 15 years ago.
He got a call one night from some random Aussie asking if he would like to withdraw his super, scams back then weren't well known.
The guy even came to our house to explain it some more which was a nice personal touch. He told my partner that on Christmas Eve he would receive $40,000 in his bank account. Well Christmas Eve arrived and there was no money in the account and we started to panic, this person had all of my partners details.
Around 6pm my partner asked me if I wanted takeaway for dinner, I said we couldn't afford it, then much to my surprise he said he had $40,000 in his account.
And true to this persons word he could draw on the rest whenever he wanted, we needed a new car and all we had to do was call up, we didn't have to tell them why we wanted it, it just arrived within a few days.
He still has money in there that we only use for dire difficulties but it's there whenever we need it.