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Afterpay under Austrac scrutiny

Afterpay is being looked into by financial intelligence agency Austrac over anti-money laundering and counter-terrorism financing laws.

The layby provider has said in a statement to the ASX it has not identified any criminal issues but is engaging in talks with the agency.

AML Solutions CEO and former manager at Austrac Todd Harland tells Ross Greenwood there’s a reason behind the issuing of such a statement.

“When we see a notice to the ASX, that their working with Austrac, tends to indicate that there’s something more substantial in terms of the compliance efforts.”

Click PLAY to hear the full interview

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