NBN scams are on the rise, ANZ NZ CEO to leave following expenses review, and more top news

The news Australian professionals are talking about now, curated by LinkedIn’s editors. Join the conversation in the comments below.

Consumers are being scammed of hundreds of thousands each month because of their lack of understanding about the National Broadband Network, reports The Sydney Morning Herald. The ACCC says losses to broadband-related scams have so far this year exceeded $500,000 — more than the total losses last year, and already three times the number of scams in 2018. Those aged over 65 account for 60% of the losses. The commission says a scam technology project is in the works to help address the problem.

The New Zealand CEO of ANZ is set to leave following an internal review of his personal expenses. The bank says David Hisco is departing due to “ongoing health issues” as well as board concerns over his expenses, including his use of corporate chauffeured cars and wine storage charged to the bank. Hisco, who has been at the helm of ANZ New Zealand since 2010, will forfeit about $6.4 million in equity but won’t be forced to pay back the money. Antonia Watson has been appointed as acting chief executive officer.

AGL has become the second suitor to walk away from Vocus in as many weeks, after the power and gas supplier withdrew its $3 billion takeover offer. Shares in Vocus plummeted on Monday after AGL abandoned its pursuit of Vocus, its second tilt at the business, less than a week after it became public. AGL is the fourth bidder to call off takeover talks with Vocus in two years. Vocus expects underlying earnings of between $350 million and $370 million for the current financial year.

Hundreds of schools across NSW will serve free breakfast each morning in a bid to fight “food poverty”. Under the program — a partnership between the Berejiklian government and Foodbank, Australia's largest food relief charity — thousands of children will start each school day with a nutritious meal. Treasurer Dominic Perrottet will announce $8 million in funding for the program in Tuesday’s budget, with schools in lower socio-economic areas to receive priority.

Can men have it all? That’s the question Australian fathers are asking themselves, with new research from the University of Queensland suggesting that the work-family struggle is an increasing issue for dads. While men are becoming more involved as fathers thanks to a cultural shift, they often continue to hold on to the traditional role of breadwinner. Separate Australian Institute of Family Studies research found one in three fathers experiences depression, anxiety or distress because of the work/family conflict.

Idea of the Day: Apple CEO Tim Cook addressed recent data breaches and privacy policies to Stanford University graduates in his commencement speech over the weekend.

"If you built a chaos factory, you can’t dodge responsibility."

What's your take on today’s stories? Share your thoughts in the comments.

— Capucine Yeomans & Natalie MacDonald