The increased reliance on digital communication and online banking has created greater potential for digitally-enabled scams. If not appropriately addressed, scam losses may undermine confidence in digital systems, resulting...more
4/24/2025
/ Australia ,
Banks ,
China ,
Consumer Protection Laws ,
Financial Institutions ,
Financial Services Industry ,
Hong Kong ,
Popular ,
Regulatory Requirements ,
Risk Management ,
Scams ,
Singapore ,
Telecommunications
In response to the growing threat of financial scams, the Australian Government has passed the Scams Prevention Framework Bill 2025. The Scams Prevention Framework (SPF) imposes a range of obligations on entities operating...more
2/24/2025
/ Australia ,
Banking Sector ,
Consumer Protection Laws ,
Financial Crimes ,
Financial Regulatory Reform ,
Fraud ,
Regulatory Requirements ,
Scams ,
Social Media ,
Telecommunications ,
UK
In response to growing concerns regarding the financial and emotional burden of scams on the community, the Australian government has developed the Scams Prevention Framework Bill 2024 (the Bill). Initially, the Scams...more
In December 2024 the Parliamentary Joint Committee on Corporations and Financial Services (the Committee) published a Report following an inquiry into how well the existing financial services regulatory framework is...more
2/5/2025
/ Australia ,
Consumer Privacy Rights ,
Data Privacy ,
Data Protection ,
Financial Abuse ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Privacy Laws ,
Regulatory Agenda ,
Risk Management
ASIC has recently published its findings following an investigation into the insurance industry’s level of compliance with internal dispute resolution (IDR) obligations. Report 802 Cause for complaint: Complaints handling in...more
Financial firms are required to maintain clear internal dispute resolution (IDR) processes to allow customers to seek redress where they are dissatisfied with the firm’s products or services. Access to fair, timely and...more
Australia welcomes new business and foreign investment by providing a strong economy, a stable political environment and a skilled and talented workforce. Our comprehensive guide to Doing Business in Australia has been...more
4/19/2024
/ ASIC ,
Australia ,
Australian Competition and Consumer Commission (ACCC) ,
Australian Securities Exchange (ASX) ,
Board of Directors ,
Business Development ,
Business Entities ,
Capital Gains Tax ,
Competition ,
Copyright ,
Corporate Governance ,
Data Breach ,
Data Privacy ,
Digital Assets ,
Disclosure Requirements ,
FinTech ,
Foreign Corporations ,
Foreign Investment ,
Foreign Ownership ,
Franchises ,
Franchisors ,
Immigration ,
Income Taxes ,
Insolvency ,
Intellectual Property Protection ,
Investment Funds ,
Investors ,
Joint Venture ,
Limited Partnerships ,
Modern Slavery Act ,
National Security ,
Notice Requirements ,
Partnerships ,
Patents ,
Regulatory Oversight ,
Risk Mitigation ,
Securities ,
Sole Proprietorship ,
Supply Chain ,
Tax Rates ,
Thin Capitalization ,
Trademarks ,
Trusts ,
Venture Capital
The Centre for Women’s Economic Safety (CWES) has recently published Catherine Fitzpatrick’s second ‘Designed to Disrupt’ discussion paper titled ‘Reimagining general insurance products to improve financial security.’ The...more
On 15 March 2024, the Financial Accountability Regime (FAR) came into effect for authorised deposit-taking institutions (ADIs), replacing the Banking Executive Accountability Regime (BEAR). Unlike the BEAR, application of the...more