TikTok is under scrutiny by Australian regulator AUSTRAC for money laundering concerns related to its digital payments in Türkiye and Ireland.
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Don’t risk your business.
AUSTRAC attaches importance to Compliance reports to make all companies other than exempt companies secure against financial crimes.
Being home to thousands of financial institutions, Australia has one of the most developed economies in the world, and it embodies a strict AML compliance policy.
In a highly industrialized world, fighting financial crimes and meeting AML regulations for financial institutions is becoming increasingly difficult.
Australia has been proactive in adopting cryptocurrency legislation, making cryptocurrencies, digital currencies, and cryptocurrency exchanges legal.
The Anti-Money Laundering and Counter-Terrorism Financing Act forms the basis of the anti-money laundering regime in Australia.