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Australia
AML / KYC
ACCC to Create 2nd NASC Fusion Cell to Target Job Scams
By Sanday Chongo Kabange | 01/08/2024
The fusion cell will work with social media platforms, recruitment agencies, financial firms and law enforcement to disrupt job scams.
Australia’s New Code for Tax Practitioners Takes Effect
By Sanday Chongo Kabange | 01/08/2024
Tax practitioners will have until January or July 2025 to come into compliance, depending on their firm size.
ASIC Calls on Credit Card Lenders to Improve Consumer Outcomes
By Sanday Chongo Kabange | 01/08/2024
ASIC said some credit card providers are failing to identify consumers at risk of financial hardship and communicate what help may be available.
Australia’s ANZ Completes Acquisition of Suncorp Bank
By Editors | 01/08/2024
The transaction, which enhances ANZ’s footprint in Queensland, was authorised by the Australian Competition Tribunal in February and the Treasurer in June.
Fintech / Regtech
RBNZ Explores New Techniques for Monitoring Financial Stability
By Sanday Chongo Kabange | 01/08/2024
The RBNZ is exploring the use of news sentiment as an indicator of financial stress, and macroeconomic conditions to forecast future NPLs.
Market Infrastructure
ASIC Proposes Rules for ASX Clearing and Settlement Services
By Sanday Chongo Kabange | 31/07/2024
ASIC is consulting on new rules to facilitate more competitive outcomes in cash equity clearing and settlement services provided by ASX.
Fintech / Regtech
Australian Treasury Publishes Digital and Cyber Security Strategy
By Sanday Chongo Kabange | 31/07/2024
The strategy focuses on four areas to ensure Treasury’s information and systems are secure, resilient, responsive, and fit-for-purpose.
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.
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