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yep that's exactly how a money launderer would do it and the...

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buyhi

517 Posts.

85

13/06/19

11:55

Post #: 39038080
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Originally posted by htc77: ↑

Such an over-reaction. I posed this the other day...

Just have a think of the practicalities of how money laundering could occur with Afterpay.

t would likely require a fake merchant (unless crooks are buying women's fashion items and selling them on eBay for 50% of the price!), fake accounts (literally 1000s or 10,000s of them to make it worthwhile), all these fake accounts would need to have fake bank accounts, and all those fake bank accounts would need to have funds.

That would have to be deposited in some shape of form.

So if AUSTRAC is looking at Afterpay that means all the above conditions were met AND that all other financial/regulatory checks FAILED.

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yep that's exactly how a money launderer would do it and the watch dog wants to make sure that APT has the appropriate monitoring in place to pick it up...simples

APT Price at posting: $23.13 Sentiment: Buy Disclosure: Held
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