NAB’s annual report says the bank has reported "a number of" AML/CTF compliance breaches to regulators, the potential outcome and costs of which remain uncertain.
APAC’s data intensive regulatory environment is making it increasingly important for banks to adopt a strategic data framework, say Swati Kothari and Jackielou Imperial at Wolters Kluwer.
ASIC is offering guidance to help companies and implement whistleblower policies. It will be a legal requirement to have a policy in place from 1 January.
The proposed standardised due date is 35 calendar days after the last day of the reference quarter, which will create a 14 calendar day extension for credit unions and building societies.
Datacube will allow Australian consumers to see how financial institutions are responding to complaints brought to the one year-old consumer complaints body.
APRA has observed areas of common weakness, such as poor cyber hygiene, the lack of a comprehensive security patching regime and poor access management practices.
The FMA identified 27 instances where complaints documents were accessed by internet searches through a portal on its website. Of these, 6 contained personal information.
The initiative aims to drive better industry practices, enhance the consistency of reported data, and make it easier to compare fund and product performance.
The Fintel Alliance reveals its operational results in its annual report. A second report sets out financial indicators to help FIs detect and report child sexual exploitation.