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AUSTRALIA
AML / KYC
RBNZ Publishes Research Spotlighting Barriers to Bank Account Access
By Thisanka Siripala | 26/03/2025
A survey found that a third of frontline staff report being unable to open a bank account for a customer often or very often.
Enforcement
ASIC Secures Court Victory in Unlawful Fees Case Against Payday Lender
By Thisanka Siripala | 26/03/2025
The court found that Sunshine Loans breached Australia’s credit laws by charging a fee to borrowers who sought to alter their loan repayment terms.
AML / KYC
Gambling Sector Remains in AUSTRAC’s Gunsights, As Court Looms for Star
By Nathan Lynch | 26/03/2025
AUSTRAC will continue to target gambling companies where “the risk has been large and the responsibility has been negligent.”
Crypto / Digital Assets
Crypto Scams Highlight ‘Digital Pivot’ in Money Laundering Tradecraft
By Nathan Lynch | 26/03/2025
The growth of cryptocurrency as a mainstream investment asset class has highlighted the need for new thinking in the fight against fraud and financial crime, writes Nathan Lynch.
AFCA to Update Guidelines for Handling Abuse-related Complaints
By Thisanka Siripala | 25/03/2025
AFCA has set out an updated approach for handling complaints involving family violence and financial elder abuse.
AML / KYC
NZ DIA Issues Formal Warning to NZForex for AML Failures
By Thisanka Siripala | 25/03/2025
3,182 transactions over six years were not reported to the FIU due to a system issue that was identified and self-reported by NZForex.
ACCC Opens Consultation on Merger Assessment Guidelines
By Thisanka Siripala | 25/03/2025
The draft guidelines outline the framework the ACCC will use when assessing notified acquisitions under the new merger control regime.
ESG / Sustainability
APAC’s Evolving Climate Regulations Are Reshaping Business Strategy
By Catherine Bell | 25/03/2025
In APAC, climate reporting is not just a compliance obligation; it is a strategic tool driving long-term resilience, writes Catherine Bell.
Crypto / Digital Assets
Australia Outlines Next Steps for Digital Asset Regulation
By Thisanka Siripala | 24/03/2025
A framework for digital asset platforms will be established, covering trading platforms, custody products, some brokerage arrangements, and certain other services.
Australia Drafts Bill to Modernise Financial Advice Laws
By Thisanka Siripala | 24/03/2025
The bill aims to implement reforms to improve the delivery of high-quality, accessible, and affordable financial advice for retail clients.
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