SP1 0.00% $1.07 southern cross payments ltd

I, along with many Australians, own both big and small...

  1. J89
    1,365 Posts.
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    I, along with many Australians, own both big and small businesses which are frequently visited by criminals of all sorts, small and big - ranging in illegality level.
    Now should my businesses be audited simply because I cater for the general public, some of which are criminals? If yes, then Woolworths, Coles and the like better shut up shop.
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    If these said criminals are allowed to walk the streets freely, who am I to refuse to serve their needs? The onus is on law enforcement, not the business.
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    Same principle applies here, if the said fraudulent companies were given licenses to trade by ASIC, who is ISX to reject their business? So what you're telling me is ISX should be punished for the lack of due diligence performed by ASIC? So ASIC & Co want to punish ISX for their shortcomings. .
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    Reminds me of the kid that fails an exam and blames his/her teacher. Mate had you done your homework, you wouldn't have been in this situation. Had ASIC performed their homework as expect, ISX would have never been in the predicament of dealing with such fraudulent companies.
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    Does this then raise the notion of ISX requesting damages for ASIC's shortcoming? After all they did invest capital, both monetary and labour, into acquiring these businesses, only for them to release they can no longer rely on them for earnings.
 
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