AFCA has announced that ASIC has approved changes to its Rules giving it jurisdiction to consider complaints involving receiving banks and mule accounts in scam complaints, effective 12 March 2026. Background.
The changes also include:
- Stronger oversight of paid representatives, including mandatory use of AFCA’s consumer portal.
- Ability to publish the names of financial firms that fail to comply with AFCA Determinations.
- Removal of Section F, which related to legacy complaints.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
