Australia

Fraud, Scams & Cybercrime

Australian Court Fines Macquarie for Inadequate Controls

By Editors | 21/04/2024

Macquarie failed to prevent a now jailed financial adviser from fraudulently withdrawing A$2.9mn from customer accounts between 2016 and 2019.

Fraud, Scams & Cybercrime

NZBA Calls for Scam Prevention Support from Government

By Sanday Chongo Kabange | 19/04/2024

The NZBA wants the government to set anti-scam expectations for other industries in the scam ecosystem besides banking.

Clearing & Post-Trade

ASX Consults on Incentives for CHESS Project Participation

By Sanday Chongo Kabange | 19/04/2024

ASX is consulting on payment options and incentives to enhance engagement and testing activities for the CHESS Replacement project.

Conduct, Culture & Accountability

Australia: Misconduct Compensation Scheme Starts Processing Claims

By Editors | 18/04/2024

The Compensation Scheme of Last Resort provides compensation to eligible consumers who have an unpaid determination from AFCA.

Market Data & Technology

ISDA Extends Digital Regulatory Reporting Initiative

By Editors | 17/04/2024

The initiative is being extended to cover new derivatives reporting rules in the UK, Australia and Singapore.

CBDCs

RBNZ Consults on Design Options for ‘Digital Cash’

By Sanday Chongo Kabange | 17/04/2024

The RBNZ is seeking feedback on its judgments and design options for digital cash, which would be designed as a general-purpose CBDC.

Anti-Money Laundering

Australian Senator Calls on AUSTRAC to Investigate TikTok

By Nithya Subramanian | 17/04/2024

TikTok’s platform was allegedly used to transfer money to accounts suspected of being linked to terrorist groups.

Fraud, Scams & Cybercrime

Three Crypto Firms Enter Into Liquidation in Australia

By Editors | 16/04/2024

A$55mn worth of assets belonging to a crypto fund operator have been frozen by court order, after investors became concerned about the fund’s management.

Cryptocurrency

ASIC Commences Proceedings Against Blockchain Mining Companies

By Editors | 16/04/2024

The companies, without an AFS licence, encouraged investors to set up self-managed superannuation funds to then invest in blockchain mining packages and crypto.