The Australian Transaction Reports and Analysis Centre (AUSTRAC) has ordered an auditor to examine Paypal Australia’s compliance with money laundering and counter-terror laws.
The investigation specifically relates to Paypal’s obligation to report the transfer of funds or property to or from Australia.
AUSTRAC Chief Executive Officer, Nicole Rose said “PayPal is an important partner in the fight against crime. However, when we suspect non-compliance AUSTRAC will take action to protect the Australian community”.