Australia

Anti-Money Laundering

New Zealand Regulators Update AML/CFT Audit Guidance

By Sanday Chongo Kabange | 20/05/2025

The updated guidance provides further clarity on what is considered “independent” and “appropriately qualified” when selecting an auditor.

Anti-Money Laundering

New Zealand Issues AML/CFT Guidance for Stored Value Instruments

By Sanday Chongo Kabange | 19/05/2025

The guidance summarises the regulations applicable to SVIs and explains the conditions they must meet to be exempt from the provisions of the AML/CFT Act.

Fraud, Scams & Cybercrime

AFCA Proposes Rule Changes to Improve Handling of Scam Complaints

By Sanday Chongo Kabange | 19/05/2025

The rule changes will enable AFCA to investigate scams involving mule accounts and the actions of receiving banks in scam complaints.

Anti-Money Laundering

AUSTRAC Fines Cointree for Late Suspicious Transaction Reports

By Mark Johnston | 18/05/2025

Crypto exchange penalised for failing to submit SMRs on time on four occasions. AUSTRAC CEO said timely reporting is critical.

Cybersecurity

Australian Data Breaches Hit Record High in 2024

By Thisanka Siripala | 16/05/2025

There were 1,113 data breach notifications in 2024, a 25 percent increase from the incidents reported in 2023.

Anti-Money Laundering

AUSTRAC Orders AML/CTF Audit of Mercedes Benz Financial Services

By Sanday Chongo Kabange | 15/05/2025

Almost 90 percent of non-bank lenders and financiers did not report a single suspicious matter to AUSTRAC in 2024.

Structural Regulation

Māori Face Persistent Barriers to Capital Access, RBNZ Says

By Mark Johnston | 15/05/2025

RBNZ bulletin highlights persistent financial barriers for Māori entrepreneurs, including land collateral constraints and trust deficits.

Trading & Investment

ASIC Sues Macquarie Securities Over Short Sales Reporting

By Sanday Chongo Kabange | 14/05/2025

ASIC has sued Macquarie Securities for, what it claims is, repeated and systemic misleading conduct relating to the failure to report the volume of short sales.

Conduct, Culture & Accountability

AFCA Updates Guidance for Handling Add-on Insurance Disputes

By Sanday Chongo Kabange | 13/05/2025

Financial firms have until 19 May to comply with the updated guidance, which focuses on complaints relating to add-on insurance.