All Articles

The Australian Transaction Reports and Analysis Centre (AUSTRAC) has mandated an external audit of global payments platform Airwallex following concerns over serious non-compliance with financial crime regulations. AUSTRAC Chief Executive Officer Brendan Thomas announced the regulatory action on January 22, 2026, citing potential failures in the company’s management of anti-money laundering and counter-terrorism financing (AML/CTF) obligations. The audit, conducted under sect

Bendigo and Adelaide Bank has been handed a AUD 50 million capital add-on by Australian regulators after serious deficiencies were uncovered in its financial crime and anti-money laundering controls.   The penalty, imposed jointly by the Australian Prudential Regulation Authority (APRA) and the Australian Transaction Reports and Analysis Centre (AUSTRAC), follows the discovery of long-standing weaknesses that left the regional lender exposed to illicit financial activity for

Australia’s financial intelligence regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC), has refused to renew the registration of independent remitter Yellow Sands Trading Pty Ltd, which operated under the business name Raiyyan Exchange, effectively barring the company from providing money transfer services anywhere in Australia with immediate effect.   AUSTRAC’s decision followed the identification of serious and systemic deficiencies in the company’s