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Is it work experience, or exploitation?

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Unpaid work placements and internships can serve as a legitimate avenue for ambitious young individuals to gain a foothold in their desired fields.

However, it is crucial to acknowledge that they can also exploit economically vulnerable young workers. Wage theft is illegal and can result in severe penalties for employers who engage in such practices.

To distinguish between legitimate and exploitative unpaid work placements, both employers and workers need to be well-informed.

Caution must be exercised by both parties when offering or accepting unpaid work placements.

Employment guidelines

The Fair Work Act establishes minimum wages, conditions, and awards for different types of employment. The central question regarding unpaid work placements revolves around whether the tasks assigned to the worker qualify as “employment.” This determination depends on two sub-issues:

1. Intentions of the parties: Determining intentions can be challenging as they are often mixed and not fully expressed. What matters is the nature of the relationship, rather than how either party labels it.

The factors

– Purpose of the arrangement: If the primary focus is on productive work rather than meaningful learning, training, and skill development, it is likely an employment relationship.
– Duration of the arrangement: Longer durations increase the likelihood of an employment relationship.
– Nature of the work: If the tasks performed are typically done by paid employees and are necessary for the business or organization, the arrangement should likely be considered paid employment.
– Role of learning: If the worker’s role is primarily observational and does not primarily benefit the organization, it is less likely to be seen as an employment relationship.
– Benefit distribution: A legitimate unpaid work placement should primarily benefit the intern or trainee. If the business derives significant economic benefit from the work, an employment relationship is more likely.

The difference

In practice, illustrating the difference is often easier than providing a precise definition. For instance, if someone voluntarily works for a charitable organization without any expectation of payment, it is unlikely to violate the Fair Work Act.

If an unpaid job placement is part of an educational or vocational training course and aims to equip students with essential skills for transitioning from study to work, it is likely to meet the requirements of the Fair Work Act. Similarly, if an internship or training period, not connected to a formal educational program, is brief and involves extensive mentoring and training, it may also qualify.

On the other hand, if an applicant is interviewed for a paid job and then asked to undergo an unpaid “work trial” for an indefinite period to assess suitability, it would likely contravene the Fair Work Act. An unpaid internship that lacks adequate training and instruction presents similar issues.

Exercise caution

If you have been offered an unpaid work placement with hopes of it leading to a paid job, be extremely cautious. Many workers are enticed into such arrangements under false promises, appealing to their goodwill and willingness to work.

Likewise, if you are an employer considering offering unpaid work placements, be aware that many of these arrangements may not meet the requirements outlined in the Fair Work Act. The potential penalties far outweigh any short-term cost-saving benefits. Even well-intentioned organizations seeking to provide opportunities for underserved individuals can find themselves in trouble if they operate outside the legal guidelines.

More information here.

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Money

Gold plunges as investors react to Middle East ceasefire

Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.

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Gold prices fall over 2% to below $4,000, as investors shift from safe-haven assets after Gaza ceasefire news.


Gold prices have fallen sharply, dropping over two per cent to below $4,000 per ounce, as investors took profits following the announcement of a Gaza ceasefire agreement. The deal between Israel and Hamas triggered a shift away from safe-haven assets, with silver and platinum also sliding.

The U.S. dollar strengthened as markets responded to the news, making precious metals more expensive for foreign buyers. Analysts say the pullback is likely temporary, with long-term demand for gold and silver expected to remain strong amid global instability and rising debt levels.

Market experts warn that volatility will continue as geopolitical tensions persist, even as short-term optimism grows around the Middle East peace process.

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Money

Gold and silver prices drop after Gaza ceasefire

Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

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Gold dips below $4,000/oz amid profit-taking and Gaza ceasefire; silver also softens from record highs

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In Short:
– Gold prices fell over 2% to below $4,000 per ounce due to a stronger dollar and profit-taking.
– Silver eased to $48.93 per ounce, influenced by market activity and ongoing high demand despite supply issues.
Gold prices fell over 2% on Thursday, dropping below $4,000 per ounce. The decline followed a strong rise earlier in the year and was influenced by a stronger dollar and profit-taking after a ceasefire deal between Israel and Hamas.Spot gold decreased to $3,959.48 per ounce, while U.S. gold futures for December delivery settled at $3,972.6.

Silver also experienced a slight decline, easing from its record high to $48.93 per ounce. The dollar index increased, making gold more expensive for overseas buyers.

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Traders noted increased activity in the market as profit-taking coincided with reduced tensions in a historically volatile region.

An independent metals trader stated that while gold and silver may need to consolidate further, the underlying demand drivers remain intact.

Market Overview

Gold surpassed $4,000 per ounce on Wednesday, reaching $4,059.05, boosted by geopolitical tensions and strong demand from central banks. The asset has gained about 52% this year, reflecting a significant increase due to various economic factors. The U.S. central bank’s decision to cut rates in September also contributed to the rally, with expectations for future cuts in the coming months.

Silver’s price increase of 69% this year is tied closely to similar economic trends impacting gold. Notably, liquidity issues in the silver market are being exacerbated by strong demand and tight supply conditions. Other precious metals, such as platinum and palladium, also saw declines during this period.

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Money

North Korean hackers steal $2 billion in crypto

North Korean hackers steal over $2 billion in cryptocurrency, marking the largest annual total in history

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North Korean hackers steal over $2 billion in cryptocurrency, marking the largest annual total in history

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In Short:
– North Korean hackers stole over $2 billion in cryptocurrency in 2025, nearly tripling last year’s total.
– A shift to social engineering tactics has led to increased targeting of high-net-worth individuals for cyber attacks.
North Korean hackers have reportedly stolen over $2 billion in cryptocurrency assets in 2025, setting a record with three months still left in the year.
Data from blockchain analytics firm Elliptic indicates that this amount nearly triples the total stolen last year, accounting for approximately 13% of North Korea’s estimated GDP and raising the regime’s total crypto theft to over $6 billion since 2017.Banner

A significant portion of the 2025 theft is attributed to the February hack of cryptocurrency exchange Bybit, which amounted to $1.46 billion.

The FBI has linked this breach to state-sponsored North Korean hackers, who exploited weaknesses in Bybit’s wallet management system. More than 30 additional cyber attacks have also been associated with North Korea this year, including notable breaches at LND.fi and WOO X.

Shift In Tactics

A shift in methodology among North Korean hackers has been observed, as they now focus on social engineering rather than technical exploits. According to Elliptic, the primary vulnerability lies with individuals rather than technology.

High-net-worth individuals and corporate executives are increasingly targeted due to their relatively weaker security measures.

The hackers utilise deceptive tactics, including phishing schemes and fake job offers, to access private cryptocurrency wallets. Intelligence reports suggest that the stolen funds are used to finance North Korea’s nuclear programmes.

The regime has also improved its money laundering techniques by employing various cryptocurrencies and mixing methods to obscure fund origins. Blockchain analysts are actively tracking these stolen assets, with notable progress achieved in identifying recoverable funds.


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