Afterpay

Equities

APT

AU000000APT1

Delayed Australian S.E. Other stock markets 12:10:49 2022-01-19 am EST			5-day change	1st Jan Change
66.47 ^AUD	-2.18%		-.--%	-.--%

2023	Afterpay Partners with Rokt to Expand Ads Business and Offer Shoppers More Relevant Ecommerce Experiences	CI
2022	Afterpay’S New Monthly Payment Solution Gives Consumers More Ways to Pay	CI

Afterpay Touch : Australia's Afterpay submits external audit report on money laundering concerns

September 24, 2019 at 08:43 pm EDT

(Reuters) - Afterpay Touch Group Ltd on Wednesday said it has provided an external auditor's interim report to Australia's financial crime watchdog following suspected non-compliance with laws on money-laundering and counter-terrorism financing.

The buy-now-pay-later company also reiterated that it has not identified any money laundering or terrorism financing activity in its systems to date.

In June, AUSTRAC told Afterpay to hire an external auditor to examine compliance concerns, causing ripples in a sector that has become a darling of stock analysts due to its global expansion and ability to benefit from online shopping growth.

The government agency ordered the report after it found "reasonable grounds to suspect non-compliance" with anti-money-laundering and counter-terrorism financing laws.

On Tuesday, AUSTRAC ordered an audit of PayPal Holdings Inc with regards to similar laws, flagging concerns that reporting obligations had not been met. PayPal said its Australian unit had reported itself after an internal review.

In a statement on Wednesday, Afterpay said the confidential interim report by external auditor Neil Jeans does not provide any recommendations, which will be left to the final report.

AUSTRAC has ordered a final report be submitted by Nov. 23.

"Afterpay's systems include several features that help to control our money laundering and terrorism financing risk, including the implementation of strict spending limits," the firm said.

Following Wednesday's announcement, Afterpay's share price jumped 9.5% in early trade to a record high.

(Reporting by Rashmi Ashok in Bengaluru; Editing by Clarence Fernandez and Christopher Cushing)

Latest news about Afterpay

Afterpay Partners with Rokt to Expand Ads Business and Offer Shoppers More Relevant Ecommerce Experiences	Nov. 16	CI
Afterpay’S New Monthly Payment Solution Gives Consumers More Ways to Pay	22-10-05	CI
Afterpay and Sephora Canada Partner to Bring Prestige Beauty to Canadian Shoppers	22-09-29	CI
Salesforce downgrades, Maersk drops out, Intel turns the corner: World Press Review of Friday, August 26	22-08-26
Afterpay and Sephora Partner to Make Prestige Beauty Accessible to More Customers	22-07-13	CI
Jack Dorsey's Block beats profit estimates, Australian shares soar	22-02-24	RE
Afterpay Removed from Australian Bourse's Official List	22-02-02	MT
Tech Stocks Edge Higher Premarket Tuesday	22-02-01	MT
Block Completes Afterpay Acquisition; Square Offers US, Australia Merchants Buy Now Pay Later Service	22-01-31	MT
Afterpay Limited Announces Board Changes	22-01-31	CI
Lanai (AU) 2 Pty Ltd ) completed the acquisition of Afterpay Limited.	22-01-30	CI
Buy now, pay later firms Zip, Sezzle confirm merger talks	22-01-24	RE
Afterpay Limited(ASX:APT) dropped from FTSE All-World Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P/ASX 300 Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P/ASX 100 Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P/ASX 200 Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P/ASX 50 Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P/ASX 20 Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P/ASX All Ordinaries Index	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P Global 1200	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P International 700	22-01-20	CI
Afterpay Limited(ASX:APT) dropped from S&P Global BMI Index	22-01-20	CI
TIMELINE-Afterpay's meteoric rise as a lending pioneer	22-01-19	RE
Australian shares dragged lower by financials, tech stocks	22-01-19	RE
Australian shares hit 1-month low on tech sell-off	22-01-19	RE

Chart Afterpay

Duration

Period

More charts

Company Profile

Afterpay Limited is an Australia-based technology company. The Company's primary activities include technology-driven payments solutions for customers and merchants through its Afterpay and Pay Now services and businesses. The Company's segment includes : Afterpay Asia Pacific, Afterpay North America, Clearpay and Pay Now. Afterpay Asia Pacific segment comprises of Afterpay platforms in Australia, New Zealand, and Asia. Afterpay North America segment comprises of Afterpay platforms in the United States of America and Canada. Clearpay segment comprises of Clearpay platforms in the United Kingdom and Europe. Pay Now segment Comprises of mobility, health, and e-services. The Company offers both online and in-store purchases services to the customers.

Sector

More about the company