Finance in Focus Portal
ANZ warns customers to be vigilant to business email compromise and fake invoice scams
ANZ has urged customers to be on alert for the warning signs of business email compromise and fake invoice scams, also known as payment redirection scams, as cybercriminals look to take advantage of businesses and individuals by exploiting vulnerabilities in email systems and financial processes.
Expressions of interest to better protect renters’ personal information
The Department of Finance and the Treasury invite organisations to express their interest to work with government to pilot the use of Digital ID and the Consumer Data Right (CDR) to better protect renters’ personal information.
Scam prevention: Westpac SafeBlock – Stopping scammers in their tracks
Westpac has announced the introduction of SafeBlock, a new feature that allows customers to immediately block their account when they suspect they are being scammed. The technology adds an extra layer of defence in the fight against scams and fraud.
Scam prevention: CBA research shows less than 10 per cent of Aussies would discuss their scam experience with family
New research commissioned by CommBank shows more than 90 per cent of Aussies believe that talking about scams with their loved ones will help to build awareness, however only 8 percent say they would be comfortable discussing with family about being scammed.
Developing an Innovative Australian Digital Asset Industry
Treasury has released a statement announcing the Government’s intention to work with ASIC and industry in developing legislative reforms which will extend existing financial services laws to key digital asset
Deloitte: The Current – Issue 06
AFIA Associate Member, Deloitte has published its latest issue of The Current, a platform for news and expert views on cybersecurity, with this particular issue encompassing a joint survey with SailPoint which reveals the latest identity security insights from over 400 executives.
OAIC opening statement to the Legal and Constitutional Affairs Legislation Committee
Australian Information Commissioner Elizabeth Tydd has outlined the Office of the Australian Information Commissioner's (OAIC) efforts to modernise regulation while managing rising case volumes. Speaking to the Legal and Constitutional Affairs Legislation Committee, she highlighted inquiries into connected vehicle privacy risks, a new Children’s Online Privacy Code, and improved Freedom of Information (FOI) data reporting.
FCA releases Research Note on the role of AI in credit decisions
New research from the UK’s Financial Conduct Authority (FCA) explores how different methods of explaining AI-assisted credit decisions impact consumers’ ability to identify errors. The study found that while transparency boosts confidence, too much information can sometimes make it harder for consumers to challenge mistakes.
Allens Insight: AI
To assist businesses to make informed decisions about which AI tools to use and for what purposes, international commercial law firm and AFIA Associate Member Allens have conducted an in-depth analysis of the terms and conditions (T&Cs) applicable to a range of commonly used, off-the-shelf generative AI tools from an intellectual property perspective.
Parliament passes Scams Prevention Framework
Assistant Treasurer and Minister for Financial Services Stephen Jones has announced the successful passage of the Scams Prevention Framework through Parliament.
Inquiry into the Digital Transformation of the Workplace – Final Report
The House of Representatives Standing Committee on Employment, Education, and Training has published the final report on its Inquiry into the Digital Transformation of the Workplace.
OAIC: Joint statement on building trustworthy data governance frameworks to encourage development of innovative and privacy-protective AI
Privacy Commissioner Carly Kind joined data protection authorities from Korea, Ireland, France and the UK in signing a joint declaration to reaffirm commitment to establishing data governance that fosters innovative and privacy-protective AI.