5 September 2022
These ABA Sanctions Guidelines are intended for Australian Banking Association (ABA) member banks. The guidelines are not legally binding. They aim to set out good industry practice for ABA members and their staff in relation to sanctions requirements. These Guidelines are limited to obligations applicable to Australian financial institutions under Australian sanctions laws administered by DFAT. They have nevertheless been developed with reference to the broader Australian legislative and regulatory framework, including but not limited to obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (AML/CTF Act) and Anti-Money Laundering and Counter-Terrorism Financing.
Examples of sanctions measures which may be relevant to the Australian banking industry include:
• Targeted financial sanctions (including asset freezes) on designated persons and entities
• Restrictions on trade in goods and services (including ‘arms or related materiel’), and or
• Restrictions on engaging in certain commercial activities.
These guidelines were updated December 2021.
Latest news
E&OETV InterviewInterview on News24 AM Agenda1 October 2026 Topics: Card surcharging ban; Interest rates; Refinancing Laura Jayes: Well credit card, any card surcharges are banned from today. I know customers will be happy. Small business, though, they’re not so sure. Joining me live now is the Australian Banking Association Chief Executive, Simon Birmingham. Simon, great… Read more »
E&OERadio InterviewInterview on FiveAA Adelaide1 October 2026 Topics: Card surcharging ban Stacey Lee: Well, speaking of budgets, everyone’s are tight at the moment and they might get a little bit tighter from today because card surcharges have come to an end. It’s the first of October. It’s a deadline on a whole lot of things,… Read more »
E&OERadio InterviewInterview on ABC Adelaide1 October 2026 Topics: Interest rates; Hardship support from banks; Card surcharging ban Sonya Feldhoff: Simon Birmingham is the CEO of the Australian Banking Association. He’s also a former SA senator and finance minister. So, all of these things have been very much in his purview for a long time. Simon… Read more »