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

Published 24/09/2019, 10:36 am
© Reuters.  Australia orders audit of Paypal to ensure local unit complying with money laundering, terror laws
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SYDNEY, Sept 24 (Reuters) - Australia's financial intelligence agency on Tuesday ordered the appointment of an external auditor to examine Paypal Australia's PYPL.O 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.

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