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Regulators

Regulators are responsible for supervising different financial institutions. As a comparison site we strive to provide our readers with a range of relevant information relating to various areas associated with the process of sending money overseas. Just like specialist money transfer providers, the defining factors and responsibilities of each financial regulator will differ from country to country, as each organisation focuses on implementing the laws and regulations applicable to the territory. From banks to businesses, financial regulators ensure all parties are conducting themselves in a responsible and legal way, based on the financial systems in place. In our unbiased, up-to-date guides we provide an in-depth look at how consumers are protected, to help our readers understand the support and assistance these regulators can offer.

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Council of Financial Regulators (CFR)
What Is the CFR? The CFR is the organisation that is responsible for coordinating the leading financial regulatory agencies in Australia. This promotes information sharing between various regulators to do their jobs more effectively.  The CFR does not have policy or regulatory decision-making powers, so it is a non-statutory group. The regulatory power lies with […]
Reserve Bank of Australia (RBA)
What Is the RBA? The RBA is Australia’s central bank and the authority that issues banknotes. The role was assigned to this entity on the 14th of January 1960 due to the Reserve Bank Act 1959. The act removed the Commonwealth Bank from the role.  The headquarters of RBA is in the Reserve Bank of […]
Australian Financial Complaints Authority (AFCA)
What Is the AFCA? The AFCA is an external dispute resolution scheme aimed at helping resolve disputes that were not successful via member financial services organisations. The organisation was formed on the 1st of November 2018, and its headquarters are in Melbourne, Victoria, Australia.  The Chief Ombudsman is David Locke, and the AFCA replaced three […]
Australian Transaction Reports and Analysis Centre (AUSTRAC)
What Is AUSTRAC? AUSTRAC is an agency appointed by the Australian Government that deals with protecting various aspects of financial transactions within Australia. This includes tax evasion, money laundering, organised crime, terror financing and welfare fraud.  AUSTRAC was established in 1989 due to the Financial Transaction Reports Act 1988. The regulatory body has over 300 […]
Australia Securities & Investments Commission (ASIC)
What Is ASIC?  ASIC was founded on the result of the Australian Securities and Investments Commission Act of 2001. It is an independent governing body responsible for overseeing Australia’s financial services and markets.   Businesses must be aware that ASIC is active in regulating all business areas, not just the financial markets. Therefore, they regulate all […]
Australian Prudential Regulation Authority (APRA)
What Is APRA? APRA is the Australian financial services industry prudential regulator and the Australian Government’s statutory authority. This means they are responsible for creating a framework that focuses on the financial safety and stability of the broader financial system in Australia.  The APRA was established on July 1st, 1998, based on the recommendation of […]