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 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
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