AUSTRAC decides against taking further action against Afterpay (ASX:APT)

Company News

by Anna Napoli

Buy now pay later company Afterpay (ASX:APT) says AUSTRAC has considered an audit into the company’s compliance with anti-money laundering and counter-terrorism regulation and “will not be taking any further regulatory action”.

AUSTRAC noted that Afterpay had uplifted its anti-money laundering and counter-terrorism compliance framework and financial crime function, and satisfactorily completed all required remediation activity.

Afterpay’s Chair Elana Rubin says “We are pleased to have received AUSTRAC’s decision following the external audit as it provides the Company and its stakeholders with certainty and acknowledges the work the Company has undertaken to strengthen its AML/CTF compliance.”

The company also says the external audit provided it with the opportunity to better understand its obligations and to improve the way it manages its anti-money laundering and counter-terrorism risks.

Shares in Afterpay (ASX:APT) are trading 3.2 per cent higher at $97.51.