Tips and recommendations 

Are Australian banks regulated?

Leia Doyle

Are Australian banks regulated?

Regulatory authorities What is the role of the central bank in banking regulation? The broad framework of regulation is determined by the Australian Government. Responsibility for the day-to-day supervision of financial institutions and markets lies with the: Australian Prudential Regulation Authority (APRA).

Who regulates banks in Australia?

ASIC
ASIC regulates banks and financial service providers, sets and enforces banking standards and investigates and acts against misconduct in the banking sector.

What is the Australian equivalent of the FDA?

Therapeutic Goods Administration (TGA)
Therapeutic Goods Administration (TGA) | Australian Government Department of Health.

Which Australian bank has the most customers?

Commonwealth Bank
Commonwealth Bank It is the largest of the banks in Australia and offers a diversified range of financial products and services. It currently provides retail, business, institutional banking, and wealth management products and services to its 16.6 million customers.

Who runs the TGA?

the Australian Government Department of Health
The Therapeutic Goods Administration (TGA) is part of the Australian Government Department of Health , and is responsible for regulating therapeutic goods including prescription medicines, vaccines, sunscreens, vitamins and minerals, medical devices, blood and blood products.

Can you sue a bank for lying?

With that said, it may be possible to sue banks in small-claims court or through class-action lawsuits. Beyond filing a lawsuit, you have the option of filing a complaint with a government agency about your concern with the bank, which can still result in you getting financial relief.

What is the most dangerous step in money laundering?

The Money Laundering Process Placement can take place via cash deposit, wire transfer, check, money order, or other methods. This represents the most dangerous step for the criminal, as the government is always looking to account for such large deposits. The second step is layering.