Australia

AML / KYC

CBA to Introduce New ‘NameCheck’ Scam Prevention Feature

By Editors | 06/02/2023

‘NameCheck’ will provide customers an indication of whether the name and account details they have entered in money transfers are correct.

Crypto / Digital Assets

Australian Treasury Issues Token Mapping Consultation Paper

By Manesh Samtani | 06/02/2023

The paper distinguishes four major types of crypto-related products to help conceptualise how they might fit within existing regulatory frameworks.

AML / KYC

AFP Dismantles Chinese-Australian Money Laundering Syndicate

By Editors | 03/02/2023

Police seized over AUD 150 million in assets including crypto, and charged nine individuals including a NAB banker with money laundering.

Market Infrastructure

ASX to Introduce New Measures for Handling Outages

By Sanday Chongo Kabange | 01/02/2023

ASX will introduce new order and trade download services and a ‘cancel only’ session state. A proposed intraday restart capability will not proceed.

ESG / Sustainability

Australia Sanctions Targets in Iran, Myanmar for Human Rights Abuses

By Editors | 01/02/2023

The Australian government also announced sanctions against individuals and entities in Myanmar and Iran for violence and human rights abuses against their people.

Sanctions

Australia’s Autonomous Sanctions Framework to Undergo Review

By Editors | 31/01/2023

The review will consider whether Australia’s Autonomous Sanctions Regulations and its associated instruments remain fit for purpose and how they can be made more efficient.

AML / KYC

International Counter Ransomware Task Force Begins Operation

By Editors | 30/01/2023

Australia is the inaugural chair and coordinator of the ICRTF, which will seek to drive international cooperation to tackle ransomware.

Enforcement

RBNZ Concludes Work to Enhance Enforcement Framework

By Editors | 27/01/2023

The framework consists of three documents setting set how the RBNZ selects matters for investigation, conducts investigations, and takes enforcement decisions.

New Zealand to Increase Foreign Reserves Holdings

By Editors | 27/01/2023

New Zealand will look to increase its foreign reserves holdings over “a number of years” in order to minimise the market impact.