Monthly Archives: December 2018

Are you a winner in the world’s greatest hack?

Have you stayed at a Sheraton, Westin, St. Regis, Element, Aloft, W Hotel, Luxury Collection, Le Meridien or Four Points anywhere in the world in the last four years? There is a strong chance you are a winner in the lucky dip that is now known as the Marriott Hack. This is extraordinary. The hackers were inside the database for two years before the group was bought by Marriott and for two years after the purchase.

Clever little creeps, too, as they encrypted the data and exported it at their leisure to avoid security procedures. Marriott released the news last week, estimating that personal information on about 500 million guests was taken, including various combinations of name, address, phone number, email address, date of birth, gender, trip and reservation information, passport number, and Starwood Preferred Guest account information. They are currently being coy about how many credit card numbers were stolen.
 
What will the hackers do with the information? Everything from credential stuffing to identity theft.  Also, they now have four years of data on the travel patterns of corporate executives, government officials and people having illicit affairs at upmarket venues. Expect thieves to find new ways to exploit this information.

Read more at WIRED: click here

Can you sell an RTO?

The answer is ‘No’ and ‘Yes’. You can sell the business and assets, but you cannot sell the registration. RTO and CRICOS registrations are not transferable from one legal entity to another. This means RTO Pty Ltd cannot be sold as a functioning registered training organisation to XYZ Pty Ltd who then continue to operate merrily without Regulator approval. XYZ Pty Ltd would have to go through the initial registration process.

It is possible to sell shares in an RTO. The person acquiring the shares will be required to demonstrate, either upon takeover or sometime thereafter, how they will continue to comply with all regulatory requirements.

In all instances, ASQA must be notified via ASQANet within 90 days of the change. Be aware that ASQA has access to the ASIC database where ownership changes are registered. Some State government departments that manage funding contracts also have an automatic feed from ASIC about change of ownership, so it is important to know the State’s contractual requirements around notification. Some States require that they be notified before the change of shareholding/ownership.

More on ASQA website: click here