Why every business has a responsibility to take cybercrime seriously
The Australian Cyber Security Centre (ACSC) is responsible for strengthening Australians cyber resilience and building awareness in both the business and consumer sectors. This group manages “ReportCyber”, a government initiative which facilitates the reporting of…
The right technology makes it easier to protect a property deal
Email scams cost Australians millions of dollars a year. Recently, Jane Fleming paid an invoice for $51,000, only to find her money had gone into a scammer’s account. Unfortunately, for the property industry, cybercrime is reported…
Maintain vigilance during COVID-19. 2 ways to keep a secure remote work environment.
To say the start of 2020 has been tough for all Australians would certainly be understatement and our thoughts go out to all our clients, users and their customers going through hard times. The current…
What we can learn from mature RegTech markets
Tranche 2 of the AML/CTF Act 2006, will challenge the Australian “she’ll be right” mentality as gatekeepers of all sizes will come under greater scrutiny by the regulator and self-compliance processes will need to meet…
Call on regulator – keep Tranche 2 simple
While Australia rates as a medium to low-risk country in the 2017 Basel AML Index and is ranked number 131 out of 146 countries monitored for money laundering and terrorism financing risk, the introduction of…
The increasing threat of identity crime in the real estate industry
Identity crime is happening in Australia today. In fact, according to the Australian Federal Police, it is one of the most common crimes affecting the Australian community, costing upwards of $1.6 billion annually.Whilst many organisations…
5 steps to building a compliant process
With a lack of clarity around the regulatory requirements of Tranche 2, we are often asked if our clients should familiarise themselves with offerings in the market to assist them in this journey – how…
Crypto-currencies included under new AML/CTF Amendment
On the 7th December 2017, The Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2017 (AML/CTF Amendment Act) was passed by both Houses of Parliament, receiving Royal Assent on 13th December 2017 and a commencement date…
Due diligence compliance in 2018
When going into business with a new partner and/or client, it’s important that you take the necessary steps involved in confirming that you know who your customer is. In today’s global marketplace, we are increasingly…