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On this episode of Financial Services Online news wrap, we discuss Australia's ASIC's recent surge in regulatory efforts, with a 50% increase in investigations and 829 completed surveillances. The successful crackdown on financial scams has led to over 6,900 fraudulent websites being dismantled and $104.1 million secured in civil penalties. The ASIC has also addressed the emerging issue of AI in financial services and improved market transparency. However, ASIC has expressed concerns with self-managed superannuation funds failing to meet legal requirements. In maritime finance, the launch of an innovative business interruption insurance for ports will help mitigate financial impacts from trade disruptions. The episode concludes with a discussion on the potential of AI in marine insurance, promising more efficient services and enhanced risk management. For ongoing updates, visit financialservicesonline.com.au.n
