Accounts will have easier KYC and low balance requirements in bid to boost financial inclusion.
Committee launched 2 months after central bank reminder that all VC platforms are unlicensed.
Board says consultation will result in fine tuning rather than a rollback of post-crisis reform.
Firm said to have inadequate PEP identification procedures for more than three years.
Association says auditors should have at least 10 years experience for the largest suspected frauds.
Measures are a reaction to rising threat of cybercrime.
MoU with Thailand covers cross-border supervision; Philippines agreement confirms ABIF details.
ASIC and APRA separately announce measures against interest-only lending.
New powers enable members to share and obtain audit work, internet records and phone records.
Financial institutions could soon be able to access government-held information including biometric data.