When it comes to maintaining financial compliance, legacy statutory reporting processes and software is not a viable option. The potential risks include penalties for late filing, inefficiencies, reputational damage, costly audits and downstream impacts for tax teams.
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ANALYSIS: Sri Lankan currency controls reflect fraught financial crime landscape
The active enforcement of currency controls in Sri Lanka, amid a deepening economic crisis, has underscored the fluid operating environment for risk and compliance teams in the Asia-Pacific region.
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ANALYSIS: Australian police forging direct ties with major banks to combat laundering
he Australian Federal Police (AFP) has taken its work with the financial intelligence community to a new level by forging direct partnerships with Australia’s “big four” banks.
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IMPACT ANALYSIS: ASIC ‘generally effective’, needs cultural shift -Financial Regulator Assessment Authority report
The Australian Securities and Investments Commission (ASIC) is “generally effective and capable”.
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Anti-corruption campaigners hopeful for reform, following Najib’s 1MDB jail sentence
On Tuesday the Federal Court in Putrajaya denied Najib’s final appeal and ordered the former prime minister to serve a 12-year prison sentence.
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Cost of Compliance 2022: Competing priorities
Survey findings show the difficulties compliance officers are experiencing as they plan for the future.
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Using On-demand Legal Documents: Aren’t They All The Same?
Not all trust, company and self-managed superannuation fund (SMSF) documents are identical. It is important to make sure that you use the correct documents for your legal situation, and ensure…
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Financial services firms urged to increase focus on terrorism financing
Law enforcement agencies are urging financial services firms to pay greater attention to the financing of violent extremism.
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ASIC’s updated ePayments code now covers new payments platform
In addition to extending its application to the New Payments Platform, the Code enhances consumer protection in the banking and finance system.
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ASIC wins first criminal conviction over “fees for dead people” scandal
The Australian conduct regulator has secured its first criminal conviction for failing to update defective disclosure statements, over the “fees for dead people” scandal that emerged from the financial services royal commission.
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