Question 1

What is changing in Australian privacy law?

Accepted Answer

Australia is reforming its Privacy Act with stronger individual rights, broader coverage, and higher penalties. Cleo tracks the reform timeline and prepares your compliance roadmap.

Question 2

What is the SOCI Act and does it affect my business?

Accepted Answer

The Security of Critical Infrastructure Act 2018 (SOCI Act) imposes cybersecurity obligations on operators of critical infrastructure across 11 sectors including financial services, energy, healthcare, and data storage. It requires risk management programs, incident reporting, and government-assisted response capabilities.

Question 3

How does Australia regulate AI?

Accepted Answer

Australia currently uses a voluntary AI Ethics Framework rather than binding legislation. However, the government is consulting on mandatory AI guardrails for high-risk settings. ASIC and APRA provide sector-specific guidance on AI use in financial services. Cleo monitors the evolving regulatory landscape.

FinTech compliance in Australia

Applicable regulations

How Cleo helps

Two solutions, one platform

Third-Party Due Diligence

Product Compliance

Related pages

FinTech compliance in other jurisdictions

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