3 results
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Reforming Australia’s anti-money laundering and counter-terrorism financing regime
The Australian Government is committed to protecting Australians and preventing criminal abuse of our financial system. Reforms to Australia's anti-money laundering and counter-terrorism financing (AML/CTF) regime are required to ensure it continues to effectively deter, detect and disrupt money laundering and terrorism financing, and meet international standards set by the Financial Action Task Force (FATF), the global financial crime watchdog. The AML/CTF regime establishes a... MoreOpened 2 May 2024 -
Draft guidance on adequate procedures to prevent the commission of foreign bribery
The Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 passed through Parliament in February 2024 and introduces a new corporate offence of failure to prevent foreign bribery under section 70.5A of the Criminal Code Act 1995. The offence will apply where an associate of a corporation has committed bribery for the profit or gain of the corporation. However, a corporation will not be liable under the ‘failure to prevent’ offence if it can prove it had ‘adequate... MoreOpened 29 April 2024 -
Review of Australia’s Credit Reporting Framework
Australia’s credit reporting system is an important part of our economic and financial infrastructure. It supports credit providers to assess the creditworthiness of prospective borrowers by balancing the need to protect your personal information and your credit provider’s need to access your credit information during the credit assessment process. The Australian Government has appointed Ms Heidi Richards to undertake an independent review of Australia's credit reporting... MoreOpened 26 April 2024
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