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In the first case of its kind in Australia, ASIC alleges systemic failings by HSBC Bank Australia Limited to implement adequate controls to detect and prevent scams and to properly respond to customers on their reporting to the bank that they had been scammed. ASIC says that HSBC Australia has contravened the efficiently, honestly and fairly obligations in section 912A(1)(a) of the Corporations Act 2001 (Cth) and section 47(1)(a) of the National Consumer Credit Protection Act 2009 (Cth). Clayton Utz is acting for ASIC.

The 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change was held in Baku, Azerbaijan, from 11 November to 22 November 2024.

As part of the significant hive of parliamentary activity last month, Australia now has a suite of new cyber security laws, including Australia’s first standalone Cyber Security Act 2024 (Cth). As part of this suite of statutory reforms, amendments to existing laws were also passed by Parliament , resulting in changes to the Security of Critical Infrastructure Act 2018 (Cth) (SOCI Act), the Intelligence Services Act 2001 (Cth) and the Freedom of Information Act 1982 (Cth). The focus of this insight is on the new Cyber Security Act.