AUSTRAC has ordered the appointment of an external auditor to assess whether payment platform, Airwallex Designated Business Group (Airwallex DBG), is meeting its anti-money laundering and counter-terrorism financing (AML/CTF) obligations, following concerns about potential non-compliance.
AUSTRAC Chief Executive Officer, Brendan Thomas, said external audits are a critical regulatory tool to assess serious compliance concerns and to protect the financial system from criminal exploitation.
AUSTRAC orders audit of Airwallex for suspected AML/CTF compliance failures
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