Business
Tax shysters PayPal investigated by AUSTRAC for money-laundering, counter-terror financing – Michael West News
Austrac is close to prosecuting Paypal for breaching Anti-Money Laundering and Counter-Terrorism Financing laws, following its Westpac sting.
Austrac confirmed to Michael West Media late Friday it was considering whether to pursue international payments giant PayPal for breaches of the money-laundering and terrorism financing laws (AML-CTF).
The regulatory community, particularly the Tax Office, will be keenly observing Austrac’s progress because PayPal owes Australia a lot of money.
Its latest available financial statements show the financier continues to siphon offshore 90% of the income it makes in this country. The bulk of it is…
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