Australia

Enforcement

Australia Identifies 5,000 Potential Victims of Romance Scams

By Sanday Chongo Kabange | 01/02/2025

The potential victims were identified from devices found by Philippine authorities at a Manila-based scam compound

APRA Publishes New Data on Super Fund Expenditures

By Thisanka Siripala | 31/01/2025

The data shows that Hostplus spending on sponsorships in the 2024 financial year made up 43% of what all super funds spent collectively.

AML / KYC

ASIC Calls Out Super Funds for Weak Anti-Scam Practices

By Thisanka Siripala | 31/01/2025

None of the 15 superannuation trustees that were reviewed by ASIC had an organisation-wide scams strategy in place

Sanctions

Australia Issues New Guidance on Sanctions Compliance

By Editors | 30/01/2025

The ASO also released a Sanctions Compliance Toolkit and a Sanctions Risk Assessment Tool to facilitate compliance with Australian sanctions laws

AML / KYC

Australian Banks Call Out Meta for Failing to Tackle Scams

By Thisanka Siripala | 30/01/2025

CBA and Westpac said in parliamentary submissions that Meta is failing to take action to remove scam-related pages and posts on Facebook.

Enforcement

New Zealand Starts Publishing More Data on Banking Complaints

By Thisanka Siripala | 28/01/2025

Kiwibank had the highest number of total cases for the October to December quarter when adjusted for market cap

Fintech / Regtech

New Zealand to Create New Agency to Draw in Foreign Investment

By Thisanka Siripala | 28/01/2025

Invest New Zealand will serve as the government’s primary point of contact for foreign investors, offering streamlined access to key sectors.

Enforcement

Australian Court Orders Firstmac to Pay A$8m for DDO Breaches

By Thisanka Siripala | 28/01/2025

The court said Firstmac was “objectively reckless”. This is the first civil penalty action against a distributor involving DDO breaches.

Market Infrastructure

ASX Offers Explanation for December 2024 Market Disruption

By Sanday Chongo Kabange | 27/01/2025

ASX implemented a software fix, waived fail fees from 20-31 December 2024, and will distribute A$1mn in rebates to settlement participants.