AUSTRAC stories

APAC banks face data gaps, false alerts and opaque ownership as they race to modernise sanctions screening amid fragmented rules.

FinTech Australia urges Canberra to open tenders to smaller players and revamp startup funding settings in its pre-budget pitch.

LemFi wins AUSTRAC approval to launch remittances in Australia, targeting a USD $38.2 billion outbound market serving migrant communities.

PEXA launches PEXA Clear AML tool for Australian property sector, ahead of new AUSTRAC Tranche 2 rules starting 1 July 2026.

With crime costing Australia up to AUD $60.1 billion a year, robust PEP and sanctions screening is now a strategic necessity for business.

Block Earner links with Worldpay to let Australians fund accounts instantly and buy crypto via major cards and mobile wallets.

KuCoin has secured AUSTRAC registration, expanding its regulated digital currency services and bolstering compliance for Australian users with a new Sydney base.

Australia's High Court grants ASIC special leave to appeal over legal definitions of Block Earner's discontinued digital asset product, with costs ordered against ASIC.

Block Earner has raised AUD $8 million to expand its crypto-backed loan products amid strong demand and plans for growth in Australia and international markets.

Binance has appointed fintech veteran Matt Poblocki as General Manager for Australia and New Zealand to drive growth in the region's digital asset market.

Australia's AML Tranche 2 starts July 2026, requiring firms to adopt advanced tech for compliance or risk fines of AUD $19,000 daily per breach.

Fivecast has launched a groundbreaking AI-driven platform to bolster financial crime investigations, aiding institutions in meeting stringent AML compliance demands.

FinTech Australia is urging the government to revamp R&D tax incentives as investment in early-stage fintechs declines, risking a two-speed sector.

The persistent ability of criminals to exploit legitimate structures to launder money has banks and others on the hunt for new tools and techniques to counter the threat.

TechDay's 10 Minute IT Jams feature GBG's Carol Chris discussing digital identity verification technology and GBG's flagship solution.

Digital currency exchanges in Austalia must now register with AUSTRAC, and comply with the Anti-Money Laundering and Counter-Terrorism Financing Act.

The ASEAN-Australia Codeathon saw over 100 tech experts creatively counter cybercrime in just 32 hours, with Project Iceberg securing the top prize.