AUSTRAC cancels, suspends or refuses renewal of 45 remittance and VASP registrations
AUSTRAC cancelled, suspended or refused the renewal of 45 remittance and virtual asset service provider (VASP) registrations.
AUSTRAC
AUSTRAC launches investigation into Western Union
AUSTRAC has launched an investigation into Western Union Financial Services due to concerns about the company’s management of high-risk payment channels, customers and affiliates.
AUSTRAC makes register of virtual asset service providers publicly available on its website
The register allows the public to verify if a VASP is registered with AUSTRAC before using its services.
Australian Court imposes penalties on Castra Licensee and Princeton Securities for failure to pay AUSTRAC infringement notices
The Federal Court of Australia has imposed civil penalties of $50,000 and $45,000 respectively against Castra Licensee Pty Ltd and Princeton Securities (NSW) Pty Ltd.
AUSTRAC steps up supervision of Australian virtual assets sector
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has launched two targeted supervisory campaigns into Australia’s virtual assets sector.
AUSTRAC directs audit of payment platform MHITS Limited over AML/CTF concerns
AUSTRAC has directed payment platform, MHITS Limited, to appoint an external auditor to assess whether it is meeting its AML/CTF obligations.
AUSTRAC orders audit of payment platform Airwallex
The auditor will examine whether Airwallex is complying with key AML/CTF requirements.
AUSTRAC refuses registration renewal for Raiyyan Exchange
AUSTRAC has refused to renew the registration of Yellow Sands Trading Pty Ltd, an independent remitter trading as Raiyyan Exchange.
AUSTRAC launches civil penalty proceedings against Castra Licensee and Princeton Securities
AUSTRAC has launched civil penalty proceedings in the Federal Court against Castra Licensee Pty Ltd and Princeton Securities (NSW) Pty Ltd.
AUSTRAC urges online payment platforms to tighten controls to prevent child exploitation
AUSTRAC has issued a letter to the online payment platforms sector, warning businesses to tighten their controls to prevent payments for child sexual exploitation.
