A coalition of companies has called on the government to require banks to disclose all the costs of international money transfers upfront.
June 19, 2023A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.
June 9, 2023The platform streamlines communications so banks can alert each other in real time when funds have been sent to a suspected scammer's account.
May 16, 2023Funding is provided to AUSTRAC, the Attorney-General’s Department, ASIC, the ACCC, and the launch of an SMS Sender ID Registry.
May 10, 2023Bank Identification Numbers (BINs) will be used to identify and block credit card payments. The ACMA will enforce the ban.
May 3, 2023Australia is vulnerable due to lack of reporting requirements for DNFBPs and poor transparency of companies, trusts, and beneficial ownership.
December 15, 2022The guidance will help FIs develop alternative customer identification and verification procedures to help customers that are unable to meet standard ID requirements.
December 9, 2022Making banks liable for customer-initiated P2P transfers that result from fraud will harm consumers and competition, embolden scammers, and ultimately increase fraud rates.
November 5, 2022"Operation Guardian" will protect those who had their data released online. Regulatory changes will enable better coordination to detect and mitigate cyber, fraud and scam risk.
October 7, 2022The report says banks need to improve communication and support provided to local communities when regional branches close or their hours are reduced.
October 6, 2022