Australian regulator accepts PayPal unit’s commitment to money laundering laws | – #Australian #regulator #accepts #PayPal #units #commitment #money #laundering #laws

March 17 (Reuters) – Australia’s financial crimes regulator said on Friday it will order the local unit of payments giant PayPal Holdings ( PYPL.O ) to ensure compliance with the country’s anti-money laundering and anti-terrorist financing laws. execution accepted the obligation that can be done.

In 2019, the regulator AUSTRAC PayPal Australia Pty Ltd, charged with ensuring compliance report after identifying concerns about their obligations funds had ordered the appointment of an external auditor to review his transfers.

“PayPal Australia vs. AUSTRAC report he identified the problem of commitment himself. We have co-operated fully 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 compliance with its anti-money laundering obligations.

Reporting by Himanshi Akhand in Bengaluru; Edited by Rashmi Aich

Our standards: Thomson Reuters Trust Principles.

2023-03-17 12:29:28
Source – reuters

Translation“24 HOURS”