AFCA has received more than 3,300 complaints against BNPL providers since 2018. ASIC supports regulating BNPL under the National Credit Act.
February 17, 2023The government will also continue a consultation process started by Josh Frydenberg on a regulatory framework for the crypto sector.
June 15, 2022Westpac and SocietyOne have signed a partnership expand digital banking services to customers in the second quarter of this year.
March 1, 2021The code makes AFCA membership compulsory and incorporates ASIC’s new design and distribution obligations regime.
February 27, 2021About 20% of consumers cut back on or went without essentials such as meals in the last 12 months in order to make their buy now pay later payments.
November 17, 2020Afterpay has uplifted its AML/CTF compliance framework and financial crime function, and completed all remediation necessary to ensure compliance.
October 15, 2020Following AUSTRAC’s order for Afterpay to review its AML/CTF compliance in June on suspicious of breaches, an external order has found the breaches only occurred due to the poor legal advice.
November 27, 2019Australia’s approach to international payments needs to change, and reporting entities need to update their legacy systems for better reporting, say Eric Knight and Nick Armstrong.
November 8, 2019AUSTRAC’s order follows a self-reported issue PayPal detected in its reporting system for international fund transfer instructions, which it said it was working to remediate.
September 24, 2019AUSTRAC has ordered 'buy-now, pay-later' service firm Afterpay to undergo an independent audit to its compliance with AML/CTF laws.
June 14, 2019