Australia

Enforcement

Australia Proposes Tougher Penalties for Tax Practitioners After PwC Tax Leaks Scandal

By Sanday Chongo Kabange | 14/04/2026

Treasury releases draft legislation to significantly strengthen the TPB’s powers, introducing criminal penalties and higher fines.

AML / KYC

Australian Accountants Face Major AML Reform Readiness Gap

By Sanday Chongo Kabange | 13/04/2026

A recent survey reveals widespread unpreparedness among Australian accountants for impending AML reforms, raising concerns about compliance burdens and potential penalties.

Australia to Tighten Foreign Investor CGT Rules, Offer Renewables Discount

By Sanday Chongo Kabange | 13/04/2026

New draft legislation aims to strengthen Australia’s foreign resident capital gains tax regime while offering a temporary, targeted discount for renewable energy investments.

AML / KYC

AUSTRAC Finds Major AML Vulnerabilities at Foreign-Owned Banks

By Sanday Chongo Kabange | 13/04/2026

AUSTRAC uncovers significant weaknesses in AML controls and reporting following two separate supervisory campaigns targeting foreign-owned banks.

Enforcement

ASIC Bans Four More Advisers in Crackdown Over Super Fund Collapses

By Sanday Chongo Kabange | 10/04/2026

ASIC has permanently banned four advisers - including a permanent ban and a 10-year ban - for misconduct linked to the collapsed Shield and First Guardian superannuation funds.

Crypto / Digital Assets

Coinbase Becomes First Global Crypto Firm to Secure AFS Licence in Australia

By Sanday Chongo Kabange | 10/04/2026

The exchange has won a key Australian licence for derivatives and equities, as well as conditional approval from the US Office of the Comptroller of the Currency.

Market Infrastructure

Australia Proposes Overhaul of Superannuation, Financial Advice Rules

By Sanday Chongo Kabange | 10/04/2026

The government has launched consultations on wide-ranging reforms targeting superannuation platforms, lead generators, and the last-resort compensation scheme.

Sanctions

US and Australia Warn Firms on North Korean IT Worker Threat

By Sanday Chongo Kabange | 10/04/2026

Regulators are urging firms to bolster hiring and cyber defences against sophisticated infiltration tactics used to fund Pyongyang's weapons programs.

Fintech / Regtech

ACCC Warns Australian Banks on Mortgage Due Diligence

By Sanday Chongo Kabange | 09/04/2026

The competition regulator is urging lenders to improve loan checks using open banking, as the industry lobbies for access to tax data to combat fraud.