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.

ASIC has today announced the outcome of a review of records on the Financial Advisers Register (FAR) relating to compliance with the qualifications standard that took effect on 1 January 2026.

ASIC’s review commenced in late February 2026 and focussed on financial advisers (relevant providers) who did not have any qualifications or training courses marked as going toward meeting the qualifications standard.

The review identified that of the relevant providers who are ‘existing providers’ and remained on the FAR, 132 individuals did not have any qualifications or training courses marked. Some only marked the exam administered by the former Financial Adviser Standards and Ethics Authority (FASEA) as going toward meeting the qualifications standard.

Customers can opt to use improved companies and organisations register search service.

Registry users can now access a public beta release of ASIC’s companies and organisations register search service offering a simpler and more intuitive online search experience.

Operating in parallel to ASIC Connect, where paid searches will still be performed, customers can opt-in to use the enhanced service to access company information that is available without a fee.

Companies and organisations register search is a key digital service for ASIC which helps to underpin trust, transparency and confidence across the economy by enabling users to verify a company’s identity and check its ownership. It is relied on daily by businesses and members of the public and forms an important part of ASIC’s regulatory, supervisory and enforcement work.

The Albanese Government is continuing its strong track record of standing up for consumers, delivering one of the most significant strengthening of the Australian Consumer Law since it was created.

Following passage of the Competition and Consumer Amendment (Unfair Trading Practices) Bill 2026 in Parliament today, unfair trading practices and subscription traps will be banned from 1 July 2027.

Australians know exactly what these reforms are about because they have lived it. Whether it’s spending half a day trying to exit a subscription that took 30 seconds to sign up, being slugged with last‑minute ‘service’ and ‘handling’ fees at checkout that weren’t previously disclosed, or being nudged and steered by online design features into decisions they wouldn’t otherwise make. Australians have had a gutful of these practices that waste their time, drain their wallets and undermine genuine choice.

The Albanese Government’s ban on unfair trading practices is part of Labor’s wider agenda to make markets fairer, boost competition and give Australians a fair go.