AUSTRALIA

Fintech / Regtech

ACCC to Update Guidance on International Money Transfers

By Sanday Chongo Kabange | 31/07/2024

The proposed changes will help provide further transparency to consumers so they can better compare the costs of international money transfers.

AML / KYC

Westpac, Optus Launch New Anti-scam Capability

By Sanday Chongo Kabange | 31/07/2024

Westpac launched a new in-app calling capability to protect customers from scammers trying to impersonate the bank.

Enforcement

ANZ Working to Address Conduct Issues With “Urgency”

By Sanday Chongo Kabange | 31/07/2024

ANZ said it has suspended, terminated and issued a formal warning to several employees in its Sydney dealing room.

ESG / Sustainability

Australia & New Zealand to Align Sustainable Finance Taxonomies

By Manesh Samtani | 30/07/2024

Australia and New Zealand agreed to align sustainable finance taxonomy policy “where appropriate” and to engage on transition planning and investment product labelling.

ESG / Sustainability

ASX Launches First Environmental Futures Contracts

By Sanday Chongo Kabange | 30/07/2024

Three new environmental futures contracts will allow market participants to price and hedge emissions reduction risks, ASX said.

Enforcement

ASIC Launching Dedicated Criminal Investigation Team

By Editors | 30/07/2024

The team will help speed up insider trading investigations and increase the number of cases that are referred for prosecution.

Crypto / Digital Assets

New Zealand DIA Issues New AML-CFT Guidance for VASPs

By Sanday Chongo Kabange | 29/07/2024

The guidance clarifies that the travel rule does not apply to transfers to un-hosted/self-hosted wallets, but that customer due diligence is still required.

AML / KYC

Australia: Industry Body Launches ‘Online Scams Code’ for Tech Firms

By Sanday Chongo Kabange | 29/07/2024

The Code was introduced by DIGI as a “proactive initiative” to fast-track consumer protection measures ahead of mandatory codes being introduced in Australia.

New Reporting Requirements for Super Funds Take Effect in Australia

By Editors | 27/07/2024

ASIC also now has the power to enforce compliance by super funds with accounting and auditing standards, akin to the powers it exercises over listed companies.