Kit Legal warns AUSTRAC’s patience isn’t a free pass

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Six weeks into Australia’s expanded anti-money laundering regime, and Kit Legal is warning advice, accounting and law firms against a mistake that is unfolding – reading the supportive tone from... Read more continue reading

ASIC warns against Yepbit and Yepbit Exchange

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ASIC is warning consumers about dealing with Yepbit and Yepbit Exchange (Yepbit) after receiving several reports from investors who say they are unable to withdraw funds from the platform. Yepbit... Read more continue reading

ASIC protects consumers by removing high-risk financial sector participants

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ASIC strengthened consumer protection in 2025-26, delivering 150 administrative enforcement outcomes targeting misconduct across Australia’s financial, credit and corporate sectors. Demonstrating the critical role administrative enforcement tools play in disrupting... Read more continue reading

Breaches of the Banking Code may be more than staff error

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The Banking Code Compliance Committee (BCCC) has found that banks risk overlooking deeper weaknesses in systems, processes and controls by attributing most breaches of the Code of Practice to staff... Read more continue reading

ASIC secures record $830 million in civil penalties orders and $644 million back to Australians in 2025-26

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ASIC has delivered one of its strongest enforcement periods on record, securing major penalties and driving tens of millions in payments back to Australians in the first half of 2026.... Read more continue reading

Banks urged to keep focus on deceased estates

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The Banking Code Compliance Committee (BCCC) has called on banks to keep a heightened focus on their management of deceased estates, after a review found that further work and commitment is needed to ensure improvements are working in... Read more continue reading

ASIC calls platform trustees to account over persistent failures to safeguard super savings

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ASIC is warning superannuation trustees to address stark and persistent failures to protect retirement savings, including gaps in the monitoring of harmful advice fee deductions, unusual fees and investment patterns,... Read more continue reading

Super stragglers dampen progress on death benefits delivery for grieving Australians

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Ongoing weaknesses in the death benefit claims handling practices of straggling superannuation trustees risk undermining confidence in the industry’s readiness to service Australia’s ageing population. While many trustees have made... Read more continue reading

AFCA authorised as External Dispute Resolution service for Scams Prevention Framework

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The Australian Financial Complaints Authority (AFCA) welcomes confirmation by the Federal Government that it will be the single, centralised External Dispute Resolution (EDR) scheme for scam complaints under the Scams Prevention... Read more continue reading

My clients aren’t criminals, so why does AML/CTF apply to me?

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“Surely this doesn’t apply to me, as my clients aren’t criminals.” This is heard time and again from advisers and is exactly the wrong way to think about Anti-Money Laundering... Read more continue reading