News & Analysis as of

Australia Risk Management

K&L Gates LLP

Combatting Scams in Australia, Singapore, China and Hong Kong

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The increased reliance on digital communication and online banking has created greater potential for digitally-enabled scams. If not appropriately addressed, scam losses may undermine confidence in digital systems, resulting...more

Littler

Australian Government Releases Work Health and Safety (Sexual and Gender-based Harassment) Code of Practice 2025

Littler on

As part of a suite of reforms intended to prevent sexual harassment and gender-based harassment, the Australian Government has released a detailed code of practice under work health and safety legislation. The government’s...more

A&O Shearman

Data privacy and protecting children online finding a path through the complexities

A&O Shearman on

The event included speakers from assurance providers Yoti, and VerifyMy, digital platform providers such as Google, TikTok, the BBC and Epic Games, age-appropriate design platform K-ID, data protection regulators from the UK...more

K&L Gates LLP

Australia: APRA Proposes Reforms to Strengthen Governance Standards

K&L Gates LLP on

The Australian Prudential Regulation Authority (APRA) has proposed reforms to strengthen core prudential standards and guidance on governance, currently set out in SPS 510 Governance, SPS 520 Fit and Proper, and SPS 521...more

K&L Gates LLP

Australia: Compensation Scheme of Last Resort (CSLR)

K&L Gates LLP on

Underfunded From Inception - The operator of CSLR has released the latest actuarial report commissioned on the scheme and the initial estimates of projected levies for 2025 / 26 (3rd levy period), triggering widespread...more

K&L Gates LLP

Australia's Proposed Scams Prevention Framework

K&L Gates LLP on

In response to growing concerns regarding the financial and emotional burden of scams on the community, the Australian government has developed the Scams Prevention Framework Bill 2024 (the Bill). Initially, the Scams...more

K&L Gates LLP

Financial Abuse and the Need for Better Financial Services Regulation

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In December 2024 the Parliamentary Joint Committee on Corporations and Financial Services (the Committee) published a Report following an inquiry into how well the existing financial services regulatory framework is...more

K&L Gates LLP

Be Wary: Sophisticated Scam Emails Impersonating IP Attorneys

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Business owners should be aware of a new email scam circulating impersonating an intellectual property (IP) representative, containing false information, and offering trademark assistance. This nefarious email scam is sent by...more

A&O Shearman

Business email compromise and invoice fraud – a duty of care on the innocent?

A&O Shearman on

The Western Australian District Court’s recent decision in Mobius Group Pty Ltd v Inoteq Pty Ltd1 highlights the potential consequence for the innocent party where fraudulent changes in bank details are sent from their...more

DLA Piper

Australia: Privacy Act Amendments and Cyber Security Act Become Law

DLA Piper on

On 29 November 2024, the Australian Senate passed the Privacy and Other Legislation Amendment Bill 2024 (Cth) (the Privacy Act Bill).  This follows the passage of the Cyber Security Act 2024 (Cth), and other cyber-security...more

A&O Shearman

Australia’s privacy regulator, the Office of the Australian Information Commissioner, publishes new guidance on privacy...

A&O Shearman on

The Office of the Australian Information Commissioner (OAIC) has published AI guidance articulating how Australian privacy law applies to AI and the OAIC’s overall expectations on AI governance and privacy safeguards for...more

Seyfarth Shaw LLP

Reflections on the Positive Duty to Prevent Sexual Harassment two years on

Seyfarth Shaw LLP on

In light of recent legislative changes in the United Kingdom, from 26 October 2024, UK employers have a new duty to take reasonable steps to prevent sexual harassment of workers in the course of their employment....more

K&L Gates LLP

Significant Changes on the Way for AML Reporting Entities

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The Attorney-General has introduced the Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2024 (the Bill) to address regulatory “gaps” in Australia’s existing Anti-Money Laundering and Counter-Terrorism...more

A&O Shearman

Australian Government Introduces Major Amendments to the Security of Critical Infrastructure Act 2018

A&O Shearman on

Aiming to bolster the security and resilience of critical infrastructures in Australia, the Australian Government introduced the Security of Critical Infrastructure and Other Legislation Amendment (Enhanced Response and...more

DLA Piper

Australia’s Cyber Security Strategy in Action – Three New Draft Laws Published

DLA Piper on

It has been a busy month for cyber and privacy regulation in Australia. On the heels of the proposed amendments to the Privacy Act 1988 released just under a month ago, three further draft Bills relating to cyber security...more

Seyfarth Shaw LLP

Will Australians connect with the right to disconnect?

Seyfarth Shaw LLP on

The right to disconnect has been in the media a lot. But if we look behind the headlines, what impact is it actually going to have? ...more

DLA Piper

Australia: Anti-Scam Measures and Ransomware Reporting on the Agenda

DLA Piper on

Cyber regulation is changing in Australia. As governments globally grapple with the everchanging and increasingly challenging cyber landscape, Australia is poised to implement new laws and update existing regulation in order...more

DLA Piper

Shaping the Future: Australia’s Approach to AI regulation

DLA Piper on

Recent updates - There is finally some clarity around how artificial intelligence (AI) regulation is going to look in Australia. The Australian Government has released a proposals paper for introducing mandatory guardrails...more

Seyfarth Shaw LLP

Navigating employee relations: The advisor’s role (Part 1)

Seyfarth Shaw LLP on

In recent months, I’ve spoken to many HR professionals about employee relations (ER). The challenging nature of the role for those in ER was a common theme. The role of ER has never been more valuable to Australian employers,...more

White & Case LLP

AI Watch: Global regulatory tracker - Australia

White & Case LLP on

Voluntary AI Ethics Principles guide responsible AI development in Australia, with potential reforms under consideration. Laws/Regulations directly regulating AI (the “AI Regulations”) Australia has not yet enacted any...more

White & Case LLP

ESG in APAC: 3 Trends to Watch in 2024

White & Case LLP on

Faced with increased scrutiny by consumers, regulators, shareholders and boards, Environmental, Social and Governance (ESG) considerations have been at the forefront for multinational companies globally. Multinational...more

Mitratech Holdings, Inc

Compliance Down Under: Understanding Australian Regulation CPS 230

The Australian Prudential Regulation Authority (APRA) released Prudential Standard CPS 230 in March 2017. At a glance, the regulation aims to strengthen the cybersecurity resilience and operational risk management of the...more

K&L Gates LLP

New South Wales Anti-Slavery Commissioner Publishes Guidance on Managing Modern Slavery Risks

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Introduction - Over 400 New South Wales (NSW) government entities, including government agencies, state owned corporations, and councils (collectively, Covered Entities) are required to conduct modern slavery due diligence...more

K&L Gates LLP

Climate-Related Financial Disclosures: What are They and What do They Mean?

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Overview - Background - The Australian Government recently released an exposure draft of the legislation to implement mandatory climate-related financial disclosures (Draft Legislation). This follows the release of draft...more

White & Case LLP

Mandatory climate-related financial disclosures proposed for Australia

White & Case LLP on

Following two rounds of consultation, the Australian Government has released an exposure draft of the Treasury Laws Amendment Bill 2024: Climate related financial disclosure (Draft Bill) which would introduce mandatory,...more

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