Tagged: austrac

Fintech Australia Chair Simone Joyce Says Banks are “Risk Averse,” Suggests that Better Policies Are Needed to Support Fintechs

Rebecca Schot-Guppy, CEO at FinTech Australia, says that her organization thinks that Australia is on the right path in terms of financial technology adoption and its overall approach to developing its economy. Rebecca, whose comments came during the Select Committee on Financial Technology and Regulatory… Read More

Clear the Field: Licenses of Four Cryptocurrency Exchanges Revoked in Australia

Australia’s anti-money laundering agency has revoked the licences of four cryptocurrency exchanges linked to crime in the country, IT News reports. AUSTRAC revoked licenses at AUSCOIN ATM and MK Buy & Sell in September. Both projects were run by “Lamborghini-driving Bitcoin trader Sam Karagiozis” and associates…. Read More

AUSTRAC: PayPal Is Being Audited for Money Laundering, Counter-Terrorism Laws By Australian Authorities

AUSTRAC, Australia’s financial intelligence agency, ordered an audit on September 24 of international money transfers made by online payment service provider PayPal according to a release. Australia’s authorities suspect that the transactions facilitated by PayPal might be associated with serious crimes such as child exploitation. … Read More

Australian Fintech Industry Approves: Legislation Passed on AML for Cryptocurrencies

FinTech Australia, the advocacy group for Australia’s burgeoning Fintech industry, has given its seal of approval following the Australian Parliament’s passage of Anti-Money Laundering (AML) legislation.  According to Fintech leaders, the governmental approach regarding cryptocurrencies, such as Bitcoin, will position Australia as a world leader… Read More

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