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In October, APRA Executive Board Member Suzanne Smith delivered a speech at the ICA Conference 2025. In her speech, Suzanne Smith urged the insurance industry to embrace resilience, innovation, and leadership as core pillars to future proof the industry, at a time of heightened scrutiny around operational resilience, consumer trust, and the evolving risk landscape driven by climate change and artificial intelligence.

Australia’s Country-by-Country (“CbC”) reporting regime has evolved significantly in recent years, reflecting a broader global shift towards tax transparency

The AML Reforms introduce the concept of a 'reporting group'—a flexible model that allows both related and unrelated entities to manage and mitigate ML/TF risks under a single, comprehensive AML/CTF Program.

The introduction of Value Transfer Service obligations under Australia’s AML/CTF reforms significantly broadens the scope of compliance requirements, affecting a wide range of businesses and requiring new processes, technology, and training.

Australia’s AML/CTF reforms represent a fundamental shift from a prescriptive, compliance-based regime to a flexible, outcomes-focused framework – prioritising the effective prevention of money laundering, terrorism financing and proliferation financing, rather than merely following prescriptive rules.

Australia has commenced reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime including the ‘Tranche 2’ reforms, which expand AML/CTF compliance to apply to additional professions including lawyers.

Australia has commenced reforming its Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) regime including the ‘Tranche 2’ reforms, which expand AML/CTF compliance to apply to additional professions including real estate agents and conveyancers.

The final amendments to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Rules, published on 30 August 2025, introduce a series of structural and operational changes following extensive consultation by AUSTRAC and industry feedback.

Embed ESG risks into strategy and culture to drive sustainability beyond compliance.

The AML/CTF Reforms require reporting entities to develop and maintain AML/CTF policies that achieve both ML/TF/PF risk mitigation and management as well as AML/CTF compliance.

ASIC’s review of 50 responsible entities revealed outdated and incomplete compliance plans – some missing key regulatory obligations like DDO and IDR entirely. With investigations now underway, responsible entities must act.

In today’s fast-moving business landscape, Boards must take a strategic approach to governance. This article explores key priorities including regulatory compliance, cyber and AI risk, operational resilience, and navigating market volatility.