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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.
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.