April 2, 2025, 11:25 p.m.

Asia

  • views:1135

Australian regulator accepts PayPal unit's undertaking for money laundering laws

image

(Reuters) - Australia's financial crime regulator said on Friday it accepted an enforceable undertaking from payments giant PayPal Holdings' local unit to ensure its compliance with the country's anti-money laundering and counter-terrorism financing laws.

In 2019, AUSTRAC, which is tasked with ensuring compliance with the laws, had ordered PayPal Australia Pty Ltd to appoint an external auditor to look at fund transfers after the regulator identified concerns with its reporting obligations.

"PayPal Australia self-identified a reporting obligation issue to AUSTRAC. We have fully co-operated with AUSTRAC throughout their investigation..." a PayPal Australia spokesperson said.

AUSTRAC said in a statement that PayPal has already undertaken significant work, including an independent audit, to ensure its compliance with the anti-money laundering obligations.

Recommend

Le Pen's election ban: the "fragile calm" and potential storm in French politics

The verdict of the Paris Criminal Court is like a heavy bomb, pushing Marine Le Pen's political career to the edge of a cliff.

Latest

Le Pen's election ban: the "fragile calm" and potential storm in French politics

The verdict of the Paris Criminal Court is like a heavy bom…

Repeated attacks on the Sacramento store saw its market share in Europe shrink to 1.1%

Recently, Tesla stores, cars, and charging stations in many…

Tesla has suffered in Europe: sales have plummeted and competition has intensified

In recent years, the American electric car giant Tesla has …

EU to retaliate against US trade: Counterattack to Trump's tariff policies

According to a survey released by YouGov on Tuesday, as Was…

What is the secret behind the US-Ukraine mineral agreement?

Recently, negotiations between the United States and Ukrain…

The political ecology of Germany has fallen into the abyss of polarization and chaos

On March 25, the first meeting of the 21st Federal Parliame…