trending Market Intelligence /marketintelligence/en/news-insights/trending/zsX4G9qKFwItA1M9ff7IzQ2 content esgSubNav
In This List

Australian regulator orders audit of PayPal Australia over potential breaches

Podcast

Next in Tech | Episode 50: InfoSec spending up, again…

Blog

Broadcast deal market recap 2021

Blog

Europe: 5 key OTT trends to watch in 202

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud


Australian regulator orders audit of PayPal Australia over potential breaches

PayPal Australia Pty Ltd. is facing an audit from the Australian Transaction Reports and Analysis Centre, or AUSTRAC, relating to concerns with the company's compliance with financial crime laws.

The concerns relate to PayPal Australia's compliance with its International Funds Transfer Instruction reporting obligations, which require the company to report the transfer of funds or property to or from Australia.

AUSTRAC ordered the appointment of an external auditor to examine the ongoing issues, with the auditor being required to report to AUSTRAC within 120 days of being appointed. The auditor will examine PayPal Australia's compliance with anti-money laundering laws and IFTI reporting obligations.