Australian regulator accepts PayPal unit's undertaking for money laundering laws

Technology
Friday, 17 Mar 2023
9:07 AM MYT

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FILE PHOTO: FILE PHOTO: A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo

(Reuters) - Australia's financial crime regulator said on Friday it accepted an enforceable undertaking from payments giant PayPal Holdings' local unit to ensure its compliance with the country's anti-money laundering and counter-terrorism financing laws.

In 2019, AUSTRAC, which is tasked with ensuring compliance with the laws, had ordered PayPal Australia Pty Ltd to appoint an external auditor to look at fund transfers after the regulator identified concerns with its reporting obligations.

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Entertainment32m ago

Symbol	Open	High	Low	Last	Chg	%Chg	Vol ('00)
HSI-CWEI	0.070	0.080	0.070	0.075	0.010	15.38	2,881,712
HSI-CWGA	0.120	0.130	0.115	0.130	0.015	13.04	2,103,282
HSI-PWFZ	0.200	0.200	0.180	0.180	-0.025	-12.20	1,725,030
HSI-CWEZ	0.140	0.150	0.140	0.150	0.010	7.14	1,468,108
MYEG	0.950	0.970	0.950	0.970	0.020	2.11	982,716
HSI-PWFS	0.070	0.070	0.050	0.050	-0.030	-37.50	906,851
TWL	0.020	0.030	0.020	0.025	0.000	0.00	630,811
HSI-CWEP	0.055	0.065	0.050	0.060	0.005	9.09	588,495
HSI-PWHB	0.065	0.065	0.055	0.060	-0.005	-7.69	563,305
YTL	2.030	2.190	2.030	2.180	0.160	7.92	523,063
GAMUDA	4.720	4.820	4.710	4.760	0.060	1.28	508,518
TANCO	0.965	0.980	0.960	0.975	0.010	1.04	351,422
HSI-CWC6	0.215	0.260	0.215	0.250	0.040	19.05	345,286
HSI-PWFF	0.200	0.200	0.165	0.165	-0.050	-23.26	320,493
GENM	2.030	2.030	1.870	1.900	-0.130	-6.40	274,376

Australian regulator accepts PayPal unit's undertaking for money laundering laws