Blog

In the wake of an unprecedented lawsuit against Commonwealth Bank of Australia for alleged compliance violations, other lenders are re-evaluating their own risks and adjusting to a potentially more aggressive regulatory climate, say sources. On August 3, the Australian Transaction Reports and Analysis Centre, or AUSTRAC, accused the country’s largest financial institution of violating anti-money…

Commonwealth Bank has committed to spending $40 million over the next 12 months in a bid to fortify its anti-money laundering technology capabilities; a sum that has divided opinion in banking technology circles. While some have said the new investment is overkill from a bank trying to rehabilitate a tarnished reputation, others say $40m may…

Commonwealth Bank of Australia is considering using new software to improve the way it monitors suspicious activity throughout the bank, suggesting the money-laundering scandal could be a tipping point that breaks down CBA’s insular approach to technology development. With AUSTRAC suing CBA for failures in identifying suspect deposits, the bank has been exploring how new regulatory…

The Regtech Association, launched late last week, is a first of its kind. It’s a product of the latent demand in the finance industry for specialist technology in this area, says Eric Frost, CEO of Simple KYC, one of the association’s founding members. “Regtech is quickly emerging due to the demand for such technology,” Frost…

29th March 2017, Sydney, Australia. The RegTech Association will officially launch tomorrow with a high-profile event in Sydney, where the first-of-its-kind group will be hosting an exclusive speaker panel, including some of the industry’s key influencers, movers and shakers; who will discuss the state of play and future opportunities for growing the RegTech eco-system in…

Financial crimes like fraud, money laundering, bribery, and corruption only make it onto the average person’s radar through either sensationalist news headlines concerning high powered politicians or business leaders, or crime procedurals on TV. However, these crimes – or, specifically, ensuring they don’t occur – can be costly, on-going headaches for thousands of businesses big…

In this podcast, Ross McGill from T-Consult speaks to Anthony Quinn from Arctic Intelligence to explore the issues involved with implementing tax compliance programs, the key challenges of implementing FATCA and the risks of non-compliance.  Click here to listen to the original full podcast.

The Google-backed, Silicon Valley-based fintech start-up Ripple Labs, which is developing new payments transfer technology, is among a group of 41 start-ups that have joined Stone & Chalk, the fintech hub in Sydney that was officially opened on Tuesday night. The Berlin-based online lender to small businesses, Spotcap, is another international start-up to open an…