Australia

Enforcement

Australian Court Rules Payday Lenders Breached Credit Act

By Sanday Chongo Kabange | 27/05/2024

The court ruled that Cigno Australia, BSF Solutions, and their directors engaged in unlicensed credit activity.

Sanctions

Australia Lists the Houthis as Terrorist Organisation

By Editors | 24/05/2024

Listing the Houthis as a terrorist organisation complements the sanctions in place in relation to the entity, said Attorney-General Mark Dreyfus.

AML / KYC

Australia: Scam Losses Have Declined Further

By Sanday Chongo Kabange | 24/05/2024

Losses reported to Scamwatch, AFCX and ReportCyber declined in the January to March quarter, compared to the previous quarter.

AML / KYC

Australia Anti-Scam Centre Publishes Fusion Cell Report

By Sanday Chongo Kabange | 23/05/2024

The investment scam fusion cell succeeded in removing scam ads from digital platforms, taking down investment scam websites, and diverting scam calls to recorded warnings.

AML / KYC

NZ DIA, SkyCity Reach Settlement Over AML Breaches

By Sanday Chongo Kabange | 22/05/2024

A penalty of NZD 4.16 million was proposed to the court to settle SkyCity’s liability over the AML breaches.

AML / KYC

NZ Regulators Endorse New AML/CFT Supervisory Approach

By Sanday Chongo Kabange | 22/05/2024

The DIA, FMA and RBNZ say changes to the AML/CFT requirements will ensure New Zealand is meeting global AML/CFT standards.

Sanctions

Australia, UK Join Allies in Targeting DPRK-Russia Arms Trade

By Editors | 18/05/2024

Australia targeted six entities while the UK targeted three companies and one individual for their involvement in North Korea-Russia arms trade.

AML / KYC

AUSTRAC, SkyCity Propose A$67m Settlement to Court

By Editors | 17/05/2024

A hearing date has been set for 7 June 2024 for the court to consider the settlement jointly proposed by AUSTRAC and SkyCity Adelaide.

Market Infrastructure

Australia Advances Work to Improve Competition in Clearing, Settlement

By Editors | 17/05/2024

A new legislative instrument will empower ASIC to make rules to improve competition in clearing and settlement services.