Australian Regulator Agrees PayPal Unit’s Undertaking for Money Laundering Laws


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On Friday, the financial crime regulator revealed that it agrees with an enforceable undertaking from PayPal Holdings ensuring its compliance with Australia’s anti-money laundering & counter-terrorism financing laws.

In 2019, AUSTRAC, tasked with providing compliance with the laws, instructed PayPal Australia Pty Ltd to hire an external auditor to examine fund transfers after the regulator identified concerns with its reporting commitments.

Read more: Australian regulator accepts PayPal unit’s undertaking for money laundering laws

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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