Australia

Anti-Money Laundering

AUSTRAC Puts Wealth Sector on Notice for ‘Unacceptable Blind Spot’

By Sanday Chongo Kabange | 17/04/2026

AUSTRAC has warned wealth managers over failures to report suspicious transactions, creating significant financial crime risks.

Cybersecurity

Anthropic's 'Mythos' AI Sparks Emergency Response in Asia Pacific

By Manesh Samtani | 16/04/2026

Regulators in South Korea and Australia are holding emergency talks with industry over a new AI model deemed too dangerous for public release.

Anti-Money Laundering

Australian Banks Exit 1,000+ Customers in Illicit Tobacco Crackdown

By Sanday Chongo Kabange | 15/04/2026

AUSTRAC reports significant results from a targeted crackdown on illicit tobacco financing, with banks filing hundreds of suspicious matter reports.

Conduct, Culture & Accountability

ASIC Tackles Retirement Anxiety With New Guidance Tools

By Sanday Chongo Kabange | 14/04/2026

ASIC has launched new resources after research revealed low financial literacy and significant retirement planning gaps among older Australians.

Supervision & Enforcement

Australia Proposes Tougher Penalties for Tax Practitioners After PwC Tax Leaks Scandal

By Sanday Chongo Kabange | 14/04/2026

Treasury releases draft legislation to significantly strengthen the TPB’s powers, introducing criminal penalties and higher fines.

Anti-Money Laundering

Australian Accountants Face Major AML Reform Readiness Gap

By Sanday Chongo Kabange | 13/04/2026

A recent survey reveals widespread unpreparedness among Australian accountants for impending AML reforms, raising concerns about compliance burdens and potential penalties.

Sustainable Finance

Australia to Tighten Foreign Investor CGT Rules, Offer Renewables Discount

By Sanday Chongo Kabange | 13/04/2026

New draft legislation aims to strengthen Australia’s foreign resident capital gains tax regime while offering a temporary, targeted discount for renewable energy investments.

Anti-Money Laundering

AUSTRAC Finds Major AML Vulnerabilities at Foreign-Owned Banks

By Sanday Chongo Kabange | 13/04/2026

AUSTRAC uncovers significant weaknesses in AML controls and reporting following two separate supervisory campaigns targeting foreign-owned banks.

Supervision & Enforcement

ASIC Bans Four More Advisers in Crackdown Over Super Fund Collapses

By Sanday Chongo Kabange | 10/04/2026

ASIC has permanently banned four advisers - including a permanent ban and a 10-year ban - for misconduct linked to the collapsed Shield and First Guardian superannuation funds.