Category Archives: Anti-money laundering

PayPal Australia gives AUSTRAC enforceable undertaking

AUSTRAC has accepted an enforceable undertaking from PayPal Australia Pty Ltd after an assessment of PayPal revealed deficiencies in the systems PayPal had in place to assess and manage its money laundering and terrorism financing risk in relation to its online payments business. In the undertaking which ends 31 December 2011 PayPal has agreed to: […]