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If you're a Virtual Asset Service Provider (VASP) in Australia, you may be hearing about AML reforms and wondering what it means for your business. AML/CTF reforms refer to major changes to Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations that will be applicable to all VASPs from 31 March 2026.
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Tougher economic climate also impacting business growth
Insolvencies and late payments climb, while more SMBs and Sole Traders experience mortgage stress
Mortgage arrears accelerate as the impact of interest rate rises becomes more pronounced
Nearly a quarter of mortgage surveyed brokers expect to take on more refinancing loans this year
The long-anticipated insolvency backlog ‘tsunami’ may finally be coming to shore.
Credit card demand continues to grow
Business credit demand decreased year-on-year in the December quarter, with commercial enquiry volumes falling across all product types.
Mortgage demand continues to fall, while personal loan arrears suggest further financial turbulence ahead
Equifax Group Managing Director, Melanie Cochrane, explains why financial inclusion should be a top-of-mind issue as Australia braces for an economic slowdown. The vulnerability of financially excluded groups who struggle to access credit is likely to escalate with increased pressures on household budgets. With limited or no access to the credit system, it's harder for Australians to start or grow a business or take control of their financial wellbeing in a way that contributes to the broader economy.
