Australia

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    Enforcement

    APRA Removes NM Super’s Additional Licence Conditions

    By Sanday Chongo Kabange | 06/08/2024

    The additional licence conditions were imposed by APRA in 2019 over governance and risk management concerns.

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    Market Infrastructure

    Australia, Vietnam to Cooperate on Capital Market Development

    By Sanday Chongo Kabange | 05/08/2024

    The MoU between ASIC and Vietnam’s SSC establishes a formal information-sharing mechanism between the two regulators.

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    ESG / Sustainability

    Australian Court Orders Mercer to Pay A$11.3mn for Greenwashing

    By Sanday Chongo Kabange | 05/08/2024

    The case against Mercer Superannuation was ASIC’s first greenwashing action brought before the Federal Court.

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    ASIC Extends Licensing Relief for Foreign FIs to March 2025

    By Sanday Chongo Kabange | 02/08/2024

    The relief is extended ahead of a new licensing exemption regime for FFSPs due to commence in Australia on 1 April 2025.

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