Australia's financial regulator raise concerns over money transfer platform’s alleged breaches of country's laws. FMTNews
SYDNEY: Australia’s financial regulator on Tuesday ordered an investigation into global money transfer platform PayPal over concerns it is being misused by sex offenders to buy child abuse material from Asia.
Announcing the appointment in a statement Tuesday, Austrac said it was working with its partners to “combat serious crimes such as child sex exploitation” using funds transfer information reported by the financial services sector. A PayPal Australia spokesperson said that following an internal review the company had “self-disclosed an issue” in its reporting system to Austrac.
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