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ASIC has delivered one of its strongest enforcement periods on record, securing major penalties and driving tens of millions in payments back to Australians in the first half of 2026.

From January to June 2026, ASIC secured court orders totalling $480 million^# in civil penalties against major banks, super trustees, market participants and financial services firms, including Union Standard, HSBC, Westpac, Macquarie Securities, and Mercer Super.

Together with the $350 million ordered in the first half, ASIC’s civil penalties orders now total $830 million for the 2025-2026 financial year.

In connection with ASIC’s work, $644 million^* is being paid back to Australians, including more than $61 million announced in the first half of 2026, on top of the $583 million announced between June and December 2025.

Former MWL Financial Services Pty Ltd (MWL) financial adviser Christian Henry has been banned from providing personal financial advice, controlling an entity that carries on a financial services business or performing any function involved in the carrying on of a financial services business for three years.

On 30 June 2026, ASIC convened a Financial Markets and Innovation roundtable (Roundtable) with thirty-two industry, academic and public sector participants. The discussion focused on how to keep Australia’s capital markets efficient, resilient and globally competitive while supporting innovation with appropriate investor protections. The Roundtable formed part of ASIC’s broader work to advance Australia’s evolving capital markets and coincided with the publication of Report 835 Innovation in Financial Markets and Financial Market Infrastructure.

Some participants highlighted Australia’s strengths, including trusted institutions, sophisticated investors and deep pools of capital, but warned that Australia risks global marginalisation unless it keeps pace with market developments. Many urged prioritising innovation that solves practical problems, boosts productivity and strengthens foundations for capital formation, liquidity, collateral mobility and global connectivity in an era of major global capital raising and AI-enablement.

Roundtable participants brought diverse perspectives, but four interconnected themes emerged.

ASIC is warning Australians to be extremely cautious of investment tips received through social media and messaging apps, amid a spike in reports of pump and dump scams using fake celebrity endorsements and impersonations of financial institutions.

ASIC has observed scammers using the identities and images of well-known finance industry figures, including respected market commentators and economists, to lure consumers into WhatsApp and other messaging groups where they are encouraged to buy investments, particularly shares.

Once consumers join a messaging group, scammers provide stock tips designed to artificially inflate the price of a share before selling their own holdings before the share price falls and leaving unsuspecting investors with significant losses.

ASIC Chair Sarah Court said pump and dump scams continue to cause substantial harm to Australian investors.

The ACCC welcomes the commencement of new obligations today requiring non-bank lenders to begin sharing product data such as interest rates, fees, charges and eligibility criteria through the Consumer Data Right (CDR).

Sharing this information through CDR supports the development of comparison services and will help consumers and small businesses to access better value and improved loan options.

The Consumer Data Right, which underpins Australia’s open banking regime, commenced in 2020 when the major banks began sharing data. Since then, the scheme has expanded in stages across the banking and energy sectors, and now to the non-bank lenders sector.

AUSTRAC will require online bookmaker, bet365, to strengthen its anti‑money laundering controls after identifying serious gaps in how it manages risk and reports suspicious activity.

bet365 today entered into a legally binding enforceable undertaking requiring the company to overhaul its systems, including establishing a robust, ongoing risk assessment approach, underpinned by clear methodology and processes, and strengthening how it detects and reports suspicious transactions as risks evolve.

AUSTRAC CEO Brendan Thomas said strong risk assessments and diligent reporting are critical to protecting Australia’s financial system.

“Gambling businesses pose an inherent money laundering risk and we are focusing on the risks to the Australian economy from money laundering through this sector,” Mr Thomas said.

The action follows an AUSTRAC investigation triggered by an independent audit of bet365’s operations.

AUSTRAC is currently pursuing Federal Court action against Entain Group and has taken previous enforcement action against Sportsbet, reflecting increased scrutiny across the sector.

The enforceable undertaking sets minimum standards bet365 must meet and makes those obligations directly enforceable, with breaches attracting civil penalty consequences under both the undertaking and the Act.

The minimum standards AUSTRAC expects from bet365 reflect AUSTRAC’s expectations for all its reporting businesses.

Mr Thomas said the case highlights the high‑risk nature of the sector, which handles large volumes of fast‑moving and often anonymous transactions that can be exploited by criminals.

“The gambling industry processes large volumes of money at high speed, often through anonymous digital channels. This creates opportunities criminals look to exploit.

“This means businesses need to continuously improve their systems to assess risks and monitor for suspicious activity because when controls fall behind, the consequences extend beyond a single company.”

Details of the enforceable undertaking are available on the AUSTRAC website.

Speaking at the AFIA Risk Summit, AUSTRAC CEO Brendan Thomas praised industry for lifting suspicious-matter reporting and taking AML obligations more seriously — but warned against complacency. He flagged persistent threats including organised money-laundering networks, the proceeds of illicit tobacco and drugs, insider-enabled fraud, and AI accelerating both the scale and speed of financial crime. The message for compliance teams: reporting uplift is welcome, but the threat environment is moving faster.

The Albanese Government will recommend to the Governor‑General that Therese McCarthy Hockey and the Hon David Bradbury be appointed as Deputy Chairs of the Australian Prudential Regulation Authority (APRA) for five‑year terms.