Wednesday 12 June 2019

Afterpay faces audit after Austrac flags money-laundering concerns

Australian financial crime watchdog calls for audit to investigate buy-now pay-later company’s compliance with terrorism-financing laws

The federal financial intelligence agency has ordered an external auditor to probe Afterpay’s compliance with money laundering and terrorism-financing laws.

Austrac said on Thursday that the scope of the audit will include the buy-now pay-later company’s identification and verification of customers as well as its suspicious matter reporting obligations.

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from World news | The Guardian http://bit.ly/2X2FtR2

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