Australia

Market Infrastructure

RBNZ: New Cyber Reporting Rule to Start Next Month

By Sanday Chongo Kabange | 06/03/2024

Regulated entities will be required to report material cyber incidents to the RBNZ within 72 hours starting from 8 April 2024.

AML / KYC

Australia: NASC Warns of Deepfake Celebs Promoting Scams

By Sanday Chongo Kabange | 06/03/2024

Fake news articles and deepfake videos are being used to convince people to make online investments that turn out to be scams.

Enforcement

Coal Miner Challenges Australia Sanctions Regime in Court

By Editors | 05/03/2024

Tigers Realm Coal produces coal in Russia but does not directly export it. DFAT alleges breach of sanctions, which Tigers Realm has challenged.

Crypto / Digital Assets

Australia: CBA Users Critical of Limits on Crypto-related Transfers

By Sanday Chongo Kabange | 05/03/2024

The A$10,000 monthly limit is intended to keep customers safe from fraud and scams, the bank said.

AML / KYC

ASIC Shuts Down 3,500 Investment Scam Websites

By Nithya Subramanian | 05/03/2024

ASIC has broadened its focus to ensure that banks and superannuation trustees protect members from scammers, said Joe Longo.

Crypto / Digital Assets

ASIC Secures Orders Preventing Ex-Crypto Boss from Leaving Australia

By Sanday Chongo Kabange | 01/03/2024

ASIC is investigating former directors of Blockchain Global Limited over the A$50mn collapse of a crypto exchange they operated.

AML / KYC

NZ Minister Demands Immediate Action from Banks on Scams

By Editors | 29/02/2024

Confirmation of payee system to be established, Code of Banking Practice to be updated; voluntary reimbursement scheme to be investigated.

Enforcement

ASIC Fines Melbourne Securities for Alleged Greenwashing

By Sanday Chongo Kabange | 28/02/2024

ASIC alleges that Melbourne Securities made misleading statements in its PDS regarding its Bloom Climate Impact Fund.

Australia Commences Review of Credit Reporting Framework

By Sanday Chongo Kabange | 28/02/2024

The review, to be conducted by former APRA executive Heidi Richards, will consider the efficiency and effectiveness of the framework.