The Australian Securities and Investments Commission (ASIC) is an independent body that enforces corporation and consumer law. ASIC ensures that consumers are protected and treated properly when they purchase and use financial products and services.
They aim to reduce or eliminate bad financial practices, unfair treatment and fraud. ASIC is responsible for rules, regulations, monitoring and guidance in several areas including:
Currency exchange and money transfer providers that are based in Australia are regulated by ASIC.
ASIC is a financial regulatory authority.
ASIC is related to the Financial Intelligence Unit (AUSTRAC).
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