Why do proceeds of crime go to government???

Sydney Morning Herald reported today that the government received or would receive $17 million in fines from financial advice business Financial Circle for the damage it caused its clients by operating as it did. It is worth reading the article

What about all those poor people who were just looking for simple debt solutions. They knew little about finance, just wanted loans and according to the Herald were relieved on their money instead of having their loan problems solved.

Why do we see the Government $17m richer for apparently letting a business behave dishonestly, while the people who were taken down get nothing?

We saw this with the government that allowed banks and insurance companies to rob their customers blind for well over a decade, then collecting a reward of millions of dollars in fines from those banks and insurers.

GBAC has worked for over 40 years with many businesses and farmers to ensure that they can get sensible, fair  assistance.

Would you support laws that instead provide mandatory compensation  (not just refunds for amounts fraudulently taken) payable by offenders to those who lost their money. Email greg@gbac.com.au with your views.

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