ASIC urges super trustees to step up and address serious gaps in anti-scam and fraud protections
Why this matters
This regulatory update from ASIC highlights significant gaps in anti-scam and fraud protections across the superannuation industry, which poses risks to consumers and their retirement savings. It calls for immediate action from superannuation trustees to strengthen their practices in this area, making it a high priority issue for banks, wealth managers, and asset managers operating in the superannuation sector.
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What the ASIC said
ASIC urges super trustees to step up and address serious gaps in anti-scam and fraud protections
Published by ASIC . Read the full notice at the source for the authoritative text.
Context
Australian Securities and Investments Commission (ASIC) — Australia's financial services regulator. We track 319 updates from them.
Australian financial services are regulated by ASIC and APRA. Browse all Australia updates.
This update is classified under AML / Financial Crime, Consumer Protection / Conduct, Operational Resilience / Outsourcing and Banking & Credit.