Australia's financial crime watchdog has ordered an external auditor to probe Paypal's compliance with money laundering and terror-financing laws. Austrac’s concerns relate to the online payment system's obligations when it comes to reporting money that could be falling into the hands of criminals and terrorists. Any possible breaches by Paypal could result in fines or criminal prosecutions. A separate probe is also looking at buy-now-pay-later system Afterpay, amid similar compliance concerns.
from National | Daily Telegraph https://ift.tt/2miuJwY
Monday, September 23, 2019
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