Linfox Armaguard has incurred losses in the order of $130 million in recent years, the firm’s chair, Peter Fox, told the Senate’s Economics Legislation Committee yesterday. The firm continues to incur ...
A handy guide from the Auditor-General on approaches to repeatedly dodging paying tax debts, and building confidence that a ...
Globally, 10x Banking is celebrating its 10th anniversary, alongside several other global milestones, and market momentum in ...
In its first year of operation, Confirmation of Payee (CoP) has been used more than 150 million times to match the name of a bank account with the intended recipient of the payment. The goal of CoP – ...
A key pillar of AML/CTF frameworks is identity verification of a bank account owner via ‘know your customer’ (KYC) checks, typically requiring 100 points of identification from physical documents, ...
How bizarre. The House Economics Committee yesterday said it “encourages Australian banks and payment service providers to consider lodging a new application with the Australian Competition and ...
Judo Bank yesterday shocked the market with news of a hike in provisions, and a hike in what it terms ‘cost of risk’, via specific provision increases “for three exposures across different sectors ...
The bundling of payments processing with integrated Point of Sale platforms, or rather how best to go about unbundling these arrangements, is a prominent theme in the latest Issues Paper on payments ...
A whole-of-organisation and whole-of-society response is required to the threats posed to the banking and financial system, and society generally, all ‘Five Eyes’ cyber security agencies have declared ...
With KPMG Australia in turmoil, regulatory experts clarify ASIC and APRA’s roles when a bank changes
With regulated entities potentially switching from KPMG as their external auditor after this year’s 30 June work is done, Banking Day has clarified the roles of ASIC and APRA when a bank changes its ...
Australian banks, telcos, and digital platforms are being brought together from 31 March 2027 under the proposed Scams Prevention Framework (SPF) with black-letter obligations to prevent, detect, ...
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