Australia

Fraud, Scams & Cybercrime

We Must Stop the Crime Before It Happens to Stem the Scam Epidemic

By Chris Sheehan | 07/08/2024

Our aim must be to stop the crime before it happens, not to simply find an answer once money has been lost, writes NAB’s Chris Sheehan.

Anti-Money Laundering

DIA Offers Insight into TF Risks Facing New Zealand

By Ranamita Chakraborty | 07/08/2024

The DIA warns that terrorism financiers could manipulate New Zealand’s financial system and legal structures using methods similar to money launderers.

Credit Risk

New Zealand Eases Loan Affordability Assessment Rules

By Sanday Chongo Kabange | 06/08/2024

The government has removed prescriptive loan affordability requirements from the Credit Contracts and Consumer Finance Act.

Clearing & Post-Trade

ASX Issues 2nd Consultation on CHESS System Design

By Manesh Samtani | 06/08/2024

ASX proposes to move cash equities to a T+1 settlement cycle after the CHESS replacement is fully delivered in 2029.

Operational Risk

APRA Removes NM Super’s Additional Licence Conditions

By Sanday Chongo Kabange | 06/08/2024

The additional licence conditions were imposed by APRA in 2019 over governance and risk management concerns.

Structural Regulation

Australia, Vietnam to Cooperate on Capital Market Development

By Sanday Chongo Kabange | 05/08/2024

The MoU between ASIC and Vietnam’s SSC establishes a formal information-sharing mechanism between the two regulators.

Reporting & Disclosures

Australian Court Orders Mercer to Pay A$11.3mn for Greenwashing

By Sanday Chongo Kabange | 05/08/2024

The case against Mercer Superannuation was ASIC’s first greenwashing action brought before the Federal Court.

Structural Regulation

ASIC Extends Licensing Relief for Foreign FIs to March 2025

By Sanday Chongo Kabange | 02/08/2024

The relief is extended ahead of a new licensing exemption regime for FFSPs due to commence in Australia on 1 April 2025.

Fraud, Scams & Cybercrime

ACCC to Create 2nd NASC Fusion Cell to Target Job Scams

By Sanday Chongo Kabange | 01/08/2024

The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.