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AUSTRAC Refuses Registration Renewal for Raiyyan Exchange Over AML Failures
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
23 hours ago4 min read
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