Australia's 2025 Whitt Awards revealed $1B+ in investor losses from fraudulent super fund reviews, leading to massive fines and repayments.

The 2025 Whitt Awards exposed major financial failures in Australia, including the collapse of Shield and First Guardian Master Funds, which misled investors through false "free super reviews," leading to over $1 billion in losses for 12,000 people. Platforms like Macquarie and Netwealth faced penalties, with Macquarie repaying $321 million and Netwealth paying over $100 million in compensation. ANZ Bank was fined $240 million and ordered to refund $10 million for failing to protect customers, including deceased ones, while its former CEO sues for a $13.5 million bonus. Cbus was penalized $23.5 million for delaying death and disability claims for over 7,000 families, despite later improving services. ASIC found widespread systemic issues in super funds, prompting stronger enforcement. The Bent COP Award honored taxpayers for avoiding an estimated $2 billion cost after Adelaide lost the bid to host a future climate summit, with critics noting the environmental cost of such events would have outweighed benefits.