{
 "jurisdiction_id": "AU",
 "jurisdiction": "Australia",
 "url": "https://payments.gi/jurisdictions/australia/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 58,
  "source_register": 108
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/australia/#w1a-licensing-authorisation-market-access",
   "standing_position": "The RBA has concluded its Review of Merchant Card Payment Costs and Surcharging, mandating removal of card surcharging and lower interchange caps from 1 October 2026, with a further consultation on BNPL/mobile wallets/three-party networks/e-commerce to follow mid-2026.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Treasury Laws Amendment Bill 2025: Payments System Modernisation (Corporations Act 2001 amendments)",
     "source": "https://treasury.gov.au/policy-topics/banking-and-finance/payments-licensing-reforms",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Corporations Act 2001 (Cth) - new payment financial products/services",
     "source": "https://www.allens.com.au/insights-news/insights/2025/10/first-tranche-of-payments-licensing-reforms-what-you-need-to-know/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "SVF authorisation; PFS/PIS/PTES service categories",
     "source": "https://piperalderman.com.au/insight/australias-payments-system-to-be-overhauled/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "AFSL regime expansion + APRA registration",
     "source": "https://www.ashurst.com/en/insights/treasurys-payments-modernisation-reforms-what-payment-service-providers-must-do-now/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Treasury Laws Amendment (Payments System Modernisation) Bill 2025 (PSRA reform)",
     "source": "https://www.gtlaw.com.au/insights/key-topics/regulation-in-motion/regulation-of-payment-services-providers [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/australia/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "Australia's Corporations Amendment (Digital Assets Framework) Bill 2025 has received Royal Assent, extending the AFSL licensing perimeter to digital asset platforms and tokenised custody platforms, running alongside the Treasury Laws Amendment (Payments System Modernisation) Bill 2025 which brings BNPL, digital-wallet passthrough and stablecoin payment facilitators within the payments-system regulatory perimeter.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Safeguarding (client-money regime, Corporations Act)",
     "source": "https://www.gtlaw.com.au/insights/key-topics/regulation-in-motion/regulation-of-payment-services-providers [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Safeguarding methods (segregation/insurance)",
     "source": "https://hallandwilcox.com.au/news/treasury-proposes-overhaul-of-payment-system-regulation-what-you-need-to-know/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Conduct obligations (IDR/AFCA; removal of sophisticated-investor exemption)",
     "source": "https://piperalderman.com.au/insight/australias-payments-system-to-be-overhauled/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Tranche 1b (safeguarding, unclaimed money, ePayments Code power)",
     "source": "https://ministers.treasury.gov.au/ministers/daniel-mulino-2025/media-releases/new-legislation-modernise-regulation-payment-service",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w2-stablecoins-digital-money",
   "standing_position": "Australia is moving payment stablecoins into the SVF/digital-money framework rather than a bespoke EMT/ART regime. Under Treasury's draft, payment stablecoins (stable value vs fiat, fully backed by cash/cash-equivalents) are to be regulated as 'payment stablecoin SVFs' / tokenised SVFs, more readily treated as electronic cash, departing from ASIC's prior treatment of stablecoins as NCPFs (ASIC CP 381, Dec 2024). Tokenised SVF providers face additional requirements: monthly reserve disclosures, guaranteed redemption rights, and disclosure of adverse changes/events. Yield-bearing stablecoins remain financial products under separate treatment. A parallel digital-asset/tokenised-custody-platform exposure draft (released 25 Sep 2025) interlocks via shared 'digital token' definitions. The RBA's research (Project Acacia) tested stablecoins, bank deposit tokens and pilot wholesale CBDC as settlement assets.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Payment stablecoin SVF / tokenised SVF",
     "source": "https://piperalderman.com.au/insight/australias-payments-system-to-be-overhauled/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Payment Stablecoin SVF scope",
     "source": "https://afslhouse.com.au/insights/australian-payments-system-modernisation-afsl-guide/ [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Treasury Laws Amendment Bill 2025 (Payments + Digital asset/tokenised custody)",
     "source": "https://www.tglaw.com.au/insights/treasury-releases-draft-legislation-for-the-regulation-of-payment-service-providers [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "RBA wholesale digital money research (Project Acacia)",
     "source": "https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/wholesale-central-bank-digital-currency/project-acacia/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "Operational resilience for APRA-regulated entities (incl. ADIs/banks providing payments) is governed by Prudential Standard CPS 230 Operational Risk Management, in force 1 July 2025, replacing CPS 231 (Outsourcing) and CPS 232 (Business Continuity Management). CPS 230 requires identification/management of operational risks, maintenance of critical operations within impact tolerances through severe disruptions (credible BCP), and management of material service-provider risk (MSP register, formal agreements, monitoring). For pre-existing service-provider contracts, requirements apply from the earlier of next renewal or 1 July 2026. Payments are an example of a core operation APRA expects to be classified 'critical'. APRA finalised targeted amendments (30 April 2026) giving limited contractual-requirement exemptions for non-traditional service providers (central banks, clearing/settlement facilities, payment systems/schemes, financial messaging infrastructures). Conduct-side cyber resilience is enforced by ASIC under s912A (see W7).",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Prudential Standard CPS 230 Operational Risk Management",
     "source": "https://www.apra.gov.au/operational-risk-management",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "CPS 230 (legislative instrument)",
     "source": "https://handbook.apra.gov.au/standard/cps-230",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "CPS 230 targeted amendments (April 2026)",
     "source": "https://www.apra.gov.au/final-targeted-amendments-to-cps-230-operational-risk-management",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "CPS 230 critical operations",
     "source": "https://www.twobirds.com/en/insights/2023/australia/apras-cps-230-takes-effect [CAVEAT: Tier 3 secondary source — Assessed; verify vs primary pre-publication]",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w4-scheme-network-compliance",
   "standing_position": "RBA sets interchange/surcharging under PSRA via designated schemes; Conclusions Paper Mar 2026 decided to remove surcharging on designated debit/prepaid/credit, lower caps (proposed 0.3% credit), foreign-interchange cap and fee transparency; AES migration by Dec 2030; Amex voluntary no-surcharge.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "RBA interchange Standards (PSRA)",
     "source": "RBA — Review of Merchant Card Payment Costs & Surcharging, Conclusions Paper Mar 2026 (rba.gov.au)",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Review of Merchant Card Payment Costs and Surcharging",
     "source": "https://www.rba.gov.au/media-releases/2025/mr-25-19.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "PSRA amendments (Sept 2025, effective Dec 2025)",
     "source": "https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/conclusions-paper/introduction.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Card payments compliance review; AES migration",
     "source": "https://www.rba.gov.au/media-releases/2025/mr-25-32.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Voluntary no-surcharge agreement (American Express)",
     "source": "https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/conclusions-paper/pdf/conclusions-paper.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w5-payment-corridor-dynamics",
   "standing_position": "Australia's principal payment corridors run via SWIFT correspondent banking for cross-border transfers, with growing use of non-bank international money transfer (IMT) providers (e.g., Wise, Airwallex). The RBA assesses Australia as partially meeting G20 Roadmap cost targets: major-bank IMTs (~4% to advanced economies, ~6% to developing) sit above G20 ceilings, while non-bank IMTs to developing countries (~2%) are below target. Australia is below the G20 speed target (75% within one hour), partly due to timezone factors. Key inclusion-focused corridor: South Pacific remittances, where correspondent-banking de-risking and concentration (single bank serving multiple MTOs) create fragile AUD/NZD connectivity (IMF/AUSTRAC analysis). Australian major banks (ANZ, CBA, NAB, Westpac) joined SWIFT's new retail cross-border framework (Australia among initial corridors, go-live by end-June 2026). The RBA is exploring NPP/fast-payment interlinking and wholesale cross-border enhancements in 2026.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "G20 Roadmap assessment (RBA Bulletin Feb 2026)",
     "source": "https://www.rba.gov.au/publications/bulletin/2026/feb/on-the-road-to-better-cross-border-payments-how-is-australia-travelling.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Cross-border speed / NPP leverage",
     "source": "https://www.rba.gov.au/publications/bulletin/2026/feb/pdf/bulletin-2026-02.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "South Pacific remittance corridor / CBR de-risking",
     "source": "https://imf.org/-/media/Files/Publications/CR/2025/English/1wsmea2025002-print-pdf.ashx",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "SWIFT retail cross-border framework",
     "source": "https://www.swift.com/news-events/press-releases/swift-accelerates-transformation-consumer-payments-banks-roll-out-new-framework-retail-transactions",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w6-industry-structure-commercial-dynamics",
   "standing_position": "Australia's payments market is bank-dominated at the rails layer (four major banks: ANZ, CBA, NAB, Westpac) but with a vibrant fintech/non-bank PSP layer. Payments is the most mature fintech segment (~150+ active firms, ~20% of the fintech landscape). Domestic shared infrastructure is consolidated under Australian Payments Plus (AP+), which operates the NPP, eftpos and BPAY. Key non-bank/listed players include Tyro (ASX:TYR), Cuscal (ASX:CCL), Zip, EML Payments, Change Financial and Novatti; private/scale-ups include Airwallex (US$6.2bn valuation) and Zeller (100k+ merchants). Block's 2022 takeover of Afterpay illustrated global appetite for domestic distribution. Consolidation among payment specialists is accelerating (e.g., Banking Circle's January 2025 acquisition of Australian Settlements Limited for real-time clearing). NPP volumes exceed 100 million/month with roughly one in three account transfers riding the network.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Market structure",
     "source": "https://paymentscmi.com/insights/australia-2025-analysis-payments-ecommerce-trends/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Concentration / consolidation",
     "source": "https://www.mordorintelligence.com/industry-reports/australia-fintech-market",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Listed/non-listed PSP landscape",
     "source": "https://stockhead.com.au/news/hot-money-monday-asx-fintechs-could-ride-tailwind-as-airwallex-soars-to-6bn-valuation/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "AP+ scheme committee membership",
     "source": "https://cfotech.com.au/story/banking-circle-joins-ap-committee-to-boost-fintech-pay",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w7-legal-litigation",
   "standing_position": "ASIC is highly active in payments-adjacent enforcement, securing a record A$349.8m in court-ordered civil penalties in H2 2025. Landmark matters include: the HSBC Australia scam-controls case (Federal Court ordered A$35m on 18 June 2026 - one of the first globally - for inadequate internal-transfer controls, slow (144-day average) scam investigations and systemic ePayments Code failures); the FIIG Securities case (A$2.5m, 9 Feb 2026 - first civil penalty for cybersecurity failures under general AFSL s912A obligations), following RI Advice (2022) and ongoing Fortnum Private Wealth proceedings (filed July 2025); and the BPS Financial/Qoin crypto case (A$14m total: A$2m unlicensed conduct + A$12m misleading/deceptive conduct, after ASIC's Full Court appeal win 30 May 2025). ASIC also obtained A$250m combined penalties against ANZ (Dec 2025) including hardship and false-rate failures. These set a clear 'scam controls + cyber resilience = licence-to-operate' expectation.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Federal Court penalty (ePayments Code / scam controls)",
     "source": "https://iclg.com/news/hsbc-australia-hit-with-hefty-penalty-over-scam-protection-failings/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Civil penalty - AFSL s912A cybersecurity",
     "source": "https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-021mr-asic-action-sees-fiig-securities-ordered-to-pay-2-5-million-over-cyber-security-failures/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Civil penalty - unlicensed conduct / misleading conduct (crypto)",
     "source": "https://www.thelawyermag.com/au/practice-areas/banking-and-finance/federal-court-slaps-14m-penalty-on-company-behind-crypto-product-qoin/563826",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Enforcement statistics",
     "source": "https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-032mr-asic-secures-record-350-million-in-civil-penalties-and-583-million-back-to-australians-in-second-half-of-2025/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w8-merchant-acquiring-risk",
   "standing_position": "Merchant acquiring in Australia operates through bank acquirers (CBA, NAB, Westpac, ANZ) and non-bank players (Tyro, Zeller, Square/Block, Stripe, Adyen, Worldpay). Acquirers are subject to RBA card-payments standards (interchange, surcharging, access regimes) and PCI DSS. Surcharging is currently permitted up to cost-of-acceptance (ACCC-enforced) but the RBA has decided to remove surcharging on designated networks; ~16% of merchants currently surcharge designated cards (~A$1.6bn paid by consumers, ~A$0.2bn by businesses). Acquiring/onboarding will be brought into the AFSL perimeter under the payments modernisation reforms (merchant acquirers explicitly named as Payment Facilitation Service providers requiring an AFSL or authorised-representative status). Pricing transparency reforms will require large acquirers to publish fees. Typical acquiring economics: e.g., Zeller charges ~1.4% per in-person tap/insert transaction.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Surcharging / acquiring economics",
     "source": "https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/conclusions-paper/pdf/conclusions-paper.pdf",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "AFSL perimeter (Payment Facilitation Services)",
     "source": "https://www.ashurst.com/en/insights/treasurys-payments-modernisation-reforms-what-payment-service-providers-must-do-now/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Acquirer fee transparency",
     "source": "https://www.rba.gov.au/media-releases/2025/mr-25-19.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Acquiring pricing / PCI DSS",
     "source": "https://www.airwallex.com/en-au/blog/zeller-business-transaction-account-review",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w9-product-innovation-market-development",
   "standing_position": "Australia's domestic real-time rail is the New Payments Platform (NPP, run by Australian Payments Plus), with PayID (addressing) and PayTo (a digital-first alternative to direct debit, mandated authorisations) as headline products; monthly NPP volumes exceed 100 million with ~one in three account transfers on the network, and migration of account-to-account payments to the NPP is intended over the medium term. The RBA/DFCRC's Project Acacia (Phase 2, 2025-26) tested 24 use cases across stablecoins, bank deposit tokens and pilot wholesale CBDC, issuing pilot wCBDC directly onto third-party DLT platforms (a world-first) with ASIC regulatory relief; the Final Report (19 May 2026) found strong tokenisation potential and launched follow-on work (possible regulatory sandbox, tokenised government bond initiative, Deposit Token Working Group). BNPL was brought under the National Consumer Credit Protection Act (credit licence required from 10 June 2025). Open banking under the Consumer Data Right continues to build out action-initiation linkages to payments.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Project Acacia (wholesale CBDC / tokenisation research)",
     "source": "https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/wholesale-central-bank-digital-currency/project-acacia/",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Pilot wholesale CBDC + ASIC relief",
     "source": "https://www.rba.gov.au/media-releases/2025/mr-25-18.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Project Acacia Final Report (follow-on program)",
     "source": "https://genfinity.io/2026/05/26/project-acacia-final-report-rba-dfcrc-tokenised-finance/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "BNPL credit licensing",
     "source": "https://www.assuredsupport.com.au/articles/australias-new-payments-licensing-and-compliance-framework-preparing-for-june-2025/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w10-consumer-protection-app-fraud",
   "standing_position": "SPF (Part IVF CCA, commenced 21 Feb 2025): principles-based whole-of-ecosystem regime (banks/ASIC, telcos/ACMA, digital platforms/ACCC); A$50m/contravention; redress via IDR/AFCA + court; May 2026 draft proposes A$3,000 reimbursement threshold + equal liability; first sector obligations 1 Jul 2026.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Scams Prevention Framework Act 2025 (Part IVF CCA)",
     "source": "https://www.corrs.com.au/insights/the-new-scams-prevention-framework-key-considerations-for-regulated-entities",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "SPF draft rules/codes (May 2026)",
     "source": "https://www.gtlaw.com.au/insights/click-here-australias-scam-prevention-framework-takes-shape",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "SPF sector designation timeline",
     "source": "https://amjid.au/insights/australias-scams-prevention-framework-operators-guide/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Pre-existing measures (Scam-Safe Accord / NASC)",
     "source": "https://www.gtlaw.com.au/insights/the-scams-prevention-framework-legislation-passes-parliament-time-to-get-your-house-in-order2",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w11-aml-cft-financial-crime",
   "standing_position": "[Sentinel.gi position, payments context only] Australia's AML/CTF regime is administered by AUSTRAC under the AML/CTF Act 2006. Tranche-1 reporting entities (banks, remittance providers, digital currency exchanges, casinos) are long-regulated. The AML/CTF Amendment Act 2024 delivers major reform: 'Tranche 2' extends obligations to DNFBPs (lawyers, accountants, real estate, dealers in precious metals/stones) from 1 July 2026, expanding the regulated population to ~100,000 entities; new virtual-asset services and CDD/program changes commenced 31 March 2026. The reforms streamline funds-transfer/remittance concepts into a single value-transfer chain, replace IFTI with International Value Transfer Service (IVTS) reports, and introduce a 'travel rule' for money, virtual-asset and property transfers (from 31 March 2026, with VA travel-rule from 1 July 2026). FTR Act repealed 7 January 2025; tipping-off offence reframed 31 March 2025. Transitional rules give phased CDD/compliance-officer timelines.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Tranche 2 DNFBP expansion",
     "source": "sentinel://moodys.com/kyc/tranche-2-reforms-australia",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": "AML/CTF Act 2006 supervised by AUSTRAC covers banks, remitters, gambling and bullion; DNFBPs (lawyers, accountants, real estate agents, TCSPs) remain outside obligations until Tranche 2 reforms commence 1 July 2026, alongside new VASP registration, transaction-monitoring and Travel Rule requirements.",
     "instrument_type": "assessment",
     "source": "FIM (sentinel.gi) per-JID baseline profile — Australia",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: sourcing-thinness",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-005)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: legal-gap",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w12-correspondent-banking-settlement-access",
   "standing_position": "Settlement of high-value and NPP payments occurs through the RBA's Reserve Bank Information and Transfer System (RITS), with exchange settlement accounts (ESAs) held at the RBA; the NPP's Fast Settlement Service settles in real time on ESAs. Direct settlement/ESA access has historically been bank-centric, but the payments modernisation reforms introduce Common Access Requirements (CARs, APRA-administered under Tranche 2) intended to facilitate direct access to payment systems for non-ADI PSPs, promoting competition. Correspondent banking faces de-risking pressure, particularly on South Pacific remittance corridors where concentration and reduced bank risk-appetite create fragile AUD/NZD connectivity. Project Acacia tested settlement via ESAs, PayTo/NPP Fast Settlement Service and pilot wholesale CBDC for tokenised assets (e.g., Westpac demonstrated PayTo settling tokenised term-deposit transactions into RITS without wCBDC; Northern Trust settled tokenised carbon credits via SWIFT into RITS). The RBA is operationalising crisis-resolution powers for clearing and settlement facilities.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Common Access Requirements (CARs)",
     "source": "https://www.afslhouse.com.au/insights/australian-payments-system-modernisation-afsl-guide/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "RITS Fast Settlement Service / ESA access",
     "source": "https://genfinity.io/2026/05/26/project-acacia-final-report-rba-dfcrc-tokenised-finance/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Correspondent banking de-risking",
     "source": "https://imf.org/-/media/Files/Publications/CR/2025/English/1wsmea2025002-print-pdf.ashx",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "FMI crisis-resolution powers",
     "source": "https://www.rba.gov.au/media-releases/2025/mr-25-32.html",
     "source_url": null,
     "source_tier": "1",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "Assessed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/australia/#w13-commercial-intelligence-fintech",
   "standing_position": "Trailing-12-month AU commercial activity: Airwallex US$300m Series F (May 2025, US$6.2bn); Banking Circle acquired ADI-status Australian Settlements Limited (Jan 2025); Tyro agreed to acquire Thriday (completion Jan 2026).",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event - funding round",
     "source": "https://www.fintechnews.au/119482/fintech/australias-top-5-most-well-funded-fintech-startups-in-2025/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event - M&A",
     "source": "https://www.mordorintelligence.com/industry-reports/australia-fintech-market",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event - M&A",
     "source": "https://www.startupdaily.net/topic/business/asx-listed-payments-platform-tyro-is-buying-nab-backed-rising-star-fintech-thriday/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event - product release",
     "source": "https://www.fintechnews.au/119482/fintech/australias-top-5-most-well-funded-fintech-startups-in-2025/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  }
 ]
}