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  1. ING Direct have already started to take peoples active personal savings accounts and hand them over to ASIC in advance of this change and regardless of whether customers have current contact details and any other active accounts with them. They appear to be putting that money into their own holding accounts to earn interest for themselves then transferring to ASIC later. (this is what happened to us) This is incredible that the labor party would do this to ordinary people just trying to save money rather than relying on the dole.

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  2. I am currently in the process of claiming back a very large sum of my money from ASIC. This new so called law is nothing less than a statute. If anyone else took money out of some else”s account, that would be stealing!. To transfer money form someone else’s account to their own without permission is called embellishment. As far as i am concerned that’s exactly what asic have done. They have embessaled money from my account. I am furious that this has happened!. No one has the right take anyone else’s money from their account without permission, laws or no laws!.

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