Savings lost after customers told to selfmanage superannuation funds ABC News

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'Destructive and bizarre' - that's how one court has described a form of superannuation fraud on the rise in Australia. It's left investors with no savings for retirement after they were advised to roll their superannuation into a self-managed fun. The corporate regulator is now voicing concerns that this sort of crime is a growing threat that could leave Australians out of pocket with no compensation. • Subscribe: http://ab.co/1svxLVE • Read more here: https://ab.co/3RK8koB • ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. • For more from ABC News, click here: https://ab.co/2kxYCZY • Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 • Go deeper on our ABC News In-depth channel: https://ab.co/2lNeBn2 • Like ABC News on Facebook: / abcnews.au • Follow ABC News on Instagram: / abcnews_au • Follow ABC News on Twitter: / abcnews • Note: In most cases, our captions are auto-generated. • #ABCNews #ABCNewsAustralia

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