AUSTRALIA

Enforcement

APRA Again Increases Capital Add-on Imposed on ANZ

By Sanday Chongo Kabange | 04/04/2025

ANZ has committed to addressing root causes that have contributed to risk governance shortcomings across the bank.

AML / KYC

AUSTRAC to Start Work on Second Draft on New AML/CTF Rules

By Sanday Chongo Kabange | 03/04/2025

AUSTRAC is reviewing over 100 submissions from last December’s consultation before releasing a second exposure draft on the new AML/CTF Rules.

Capital / Liquidity

RBA Adjusts Configuration of Open Market Operations

By Sanday Chongo Kabange | 03/04/2025

The changes will provide more of an incentive for banks to recycle reserves in private markets, reducing reliance on OMO for liquidity.

Capital / Liquidity

RBA Urges Banks to Utilise Overnight Facility for Liquidity

By Sanday Chongo Kabange | 02/04/2025

Banks are encouraged to use the RBA’s overnight standing facility if they cannot find liquidity on suitable terms in private markets or via weekly OMOs.

AML / KYC

AUSTRAC Develops New Digital Channel for Data-Sharing with Banks

By Sanday Chongo Kabange | 02/04/2025

The initiative was the first project under AUSTRAC’s Collaborative Analytics Hub, and resulted in the development of several dashboards to facilitate intelligence analysis.

AML / KYC

The Final Countdown: Practical Steps for Meeting Australia’s ‘Tranche 2’ Deadline

By Nathan Lynch | 02/04/2025

Only an April Fool would ignore the tight deadline for compliance with Australia’s Tranche 2 anti-money laundering reforms, writes Nathan Lynch.

AML / KYC

AUSTRAC Puts Crypto ATM Providers on Notice

By Sanday Chongo Kabange | 01/04/2025

AUSTRAC said it will take action against crypto ATM providers that don’t comply with Australia’s AML regime.

ASIC Criticises Super Funds for Poor Claims Handling

By Sanday Chongo Kabange | 01/04/2025

ASIC has identified a range of issues including excessive delays, poor customer service and ineffective claims handling procedures for death claims.

Capital / Liquidity

RBNZ Agrees to Reassess Bank Capital Requirements

By Sanday Chongo Kabange | 01/04/2025

The RBNZ will engage independent international experts to conduct a reassessment of key its capital settings to help improve bank competition.