AUSTRAC won’t pursue Afterpay after auditor found it got bad legal advice

AUSTRAC 2020-10-14 1:19 pm By Cat Fredenburgh | Melbourne

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Financial crimes regulator AUSTRAC will not take legal action against Afterpay over its compliance with anti-money laundering laws, following an external auditor’s report that found the buy now, pay later provider had received “incorrect” legal advice from several top-tier law firms about its compliance program.

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