Pawnbrokers, payday lenders and other non-bank reporting entities have been urged to review their financial crime controls, as the Australian Transaction Reports and Analysis Centre (AUSTRAC) broadens its supervision and enforcement crackdown.

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Australia’s largest casino operator is facing enforcement action from the Australian Transaction Reports and Analysis Centre (AUSTRAC) following a 12-month review of its compliance controls that began in September 2019.

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Australian fintech giant Afterpay has escaped formal enforcement action over millions of “technical” breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

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International payments titan PayPal Holdings is ramping up its compliance remediation work as the Australian anti-money laundering regulator considers its next major enforcement targets.

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Westpac and AUSTRAC have agreed to a $1.3bn penalty for over 23 million alleged breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The proposed penalty and…

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