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, which provide the agency with intelligence to to combat serious crimes. “Regulated businesses like PayPal Australia, who facilitate payments and transactions for millions of Australian customers every year, play a critical role in helping AUSTRAC and our law enforcement partners stop the movement of money to criminals and terrorists,” AUSTRAC Chief Executive Nicole Rose said in a statement.

source https://finance.yahoo.com/news/1-australia-examining-paypal-money-013014361.html?.tsrc=rss