REP 584 Improved protections for deposit accounts with third-party access
Released 9 August 2018
This report follows a review by ASIC of deposit accounts that can be operated by a third-party, usually a financial adviser, stockbroker or accountant, on a customer’s behalf.
In particular, the report analyses the compliance measures and controls that banks should have in place to address the risk of fraud and other risks associated with third party access to customers’ money in these accounts.