AUSTRALIA

Enforcement

ASIC Commences Legal Action Against ASX Over Misleading Statements

By Sanday Chongo Kabange | 14/08/2024

ASIC alleges that ASX’s claims in February 2022 that the CHESS replacement project was tracking to plan were “misleading and deceptive”.

Fintech / Regtech

Australia Outlines Plan for Revamp of Consumer Data Right

By Manesh Samtani | 13/08/2024

Assistant Treasurer Stephen Jones said the CDR currently costs too much to implement, which has resulted in little takeup.

AML / KYC

Australia AGD Will ‘Shortly’ Publish Anti-Foreign Bribery Guidance

By Manesh Samtani | 11/08/2024

The guidance will help firms prepare for reforms that introduce ‘failure to prevent foreign bribery’ a new corporate offence from 8 September.

AML / KYC

Australia to Roll Out ‘Confirmation of Payee’ in Early 2025

By Sanday Chongo Kabange | 09/08/2024

SWIFT has been selected to develop a central matching service to underpin the ‘confirmation of payee’ services at Australian banks.

Crypto / Digital Assets

Australian Police Obtain New Intelligence on Crypto Scams

By Sanday Chongo Kabange | 08/08/2024

The AFP identified over 2,000 compromised crypto wallets belonging to Australians by participating in a global anti-scam initiative launched by Chainalysis.

AML / KYC

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.

AML / KYC

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.

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.

Market Infrastructure

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.