Australia

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.

AML / KYC

Singapore and Malaysia Join Forces to Combat Telecom Scams

By Ranamita Chakraborty | 28/02/2024

Both countries have signed an MoU to provide regulatory assistance and cooperation related to scam telephone calls and text messages.

AML / KYC

AUSTRAC Issues Draft Guidance on AML/CTF Outsourcing Arrangements

By Manesh Samtani | 27/02/2024

The guidance is intended to help reporting entities comply with their AML/CTF obligations when outsourcing to external providers.

Market Infrastructure

Australia: Misconduct Compensation Scheme to Start in April

By Sanday Chongo Kabange | 27/02/2024

Compensation up to A$150,000 can be provided for misconduct related to financial advice, securities dealing or credit intermediation/provision.