An anonymous reader writes "Remember how the Australian Government tried to enact a big bad Internet filter on the population? Well, that effort failed, but now there's a new initiative in place. At least one government agency, the country's financial regulator, has quietly started issuing legal notices to ISPs requesting them to block certain types of websites deemed illegal. There's no oversight or appeals process, and already a false positive event has resulted in some 1,200 innocent websites being blocked from Australians viewing them. Sounds ideal, right?"