PROGRAM

Australians reported a record $3.1 billion lost to scams last year – 80% more than the year before. In this session, the ACCC will lead a discussion on the recently established National Anti-Scam Centre, which has been set up to coordinate government, law enforcement and the private sector to combat scams.

Treasury will present insights on the new licensing framework proposed for payment service providers. The new framework is intended to implement risk‑based regulation of payment service providers, with the goal that regulation remains flexible and targeted towards the level of risks borne by businesses performing the same types of payment functions.

The session will focus on breaking down the risks prevalent across the payments ecosystem and gather views from roundtable attendees on what common risks exist in key segments of the market. The team will also share the thought process and challenges behind developing the current payments licensing proposals.

In this session hear about ASIC’s approach to innovation, including how its Innovation Hub provides support to startups and scaleups navigating Australia’s financial regulatory system.

Join Treasury at a roundtable to discuss policy considerations for expanding the Consumer Data Right (CDR) to enable action and payment initiation. Action initiation would build on the existing CDR data sharing framework by allowing an accredited third party to instruct a service provider, such as a bank, to perform an action on a consumer’s behalf and with their consent. Treasury will set out the key features of CDR action initiation, and will invite participants to share views on potential action types that could help unlock new use cases and on how action initiation could address existing points of friction or barriers that exist for existing action types, including payments.

At the ATO we know that running a small business is not an easy task. Most small businesses do their best to be on top of their tax and super affairs, but too many still get behind. The Fintech market is responding with digital tools designed to help businesses stay on track. We are observing digital innovation, that makes it easier for small businesses through providing tailored, high-quality, system generated tax guidance to minimise errors, increasing confidence and promoting streamlined reporting and more regular payment of government obligations.

What are you observing?

Where are the opportunities?

How do we get on the front foot to shape this wave of innovation?