Australia removed 45 remittance and virtual asset businesses from its anti-money laundering registers over the past year. The Australian Transaction Reports and Analysis Centre (AUSTRAC) disclosed the figure today (Monday), combining cancellations, suspensions and refusals to renew registrations.
The consequence is immediate. A canceled registration stops a provider from operating the covered service. AUSTRAC said it referred people behind some providers to law enforcement and regulatory partners in Australia and overseas.
No category breakdown was published. AUSTRAC’s reasons ranged from dormancy and insolvency to registration failures, missed notifications and money laundering or terrorism financing risk.
