Australia orders audit of Paypal to ensure local unit complying with money laundering, terror laws

Sydney: Australia’s financial intelligence agency on Tuesday ordered the appointment of an external auditor to examine Paypal Australia’s compliance with anti-money laundering and counter-terrorism laws.

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AUSTRAC said the order was given amid concerns about Paypal Australia’s compliance with obligations to report international fund transfers.

“When we suspect non-compliance, AUSTRAC will take action to protect the Australian community,” said Nicole Rose, Chief Executive Officer, Austrac. (Reuters) 

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• #International
• #Australia’s financial intelligence
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• #terrorism
• #Paypal