Remember the issues last year? I think these are what will come back to bite Afterpay with the AUSTRAC audit.
"More than $250 was extended to a "Miguel Laucha", the Spanish name for "Mickey Mouse", using a prepaid anonymous mobile sim card and VISA card.The date of birth given was January 2, 2000 and the address was 1 Miguel Place, Walpole, WA 6398. The prepaid VISA card, which carried the name Giftcardholder was entered as Miguel Laucha."
"High-flying listed "buy now, pay later" finance company Afterpay has been forced to change its processes following a sensational report by governance firm Ownership Matters that detailed how minors could use the payments to buy up to $300 of alcohol while an account registered to Mickey Mouse spent $250 on wine and other goods.In a statement to the Australian Securities Exchange on Wednesday, Afterpay said it was upgrading its systems to "curtail alleged under age usage of its service by dishonest users"."
AFR 4th April 2018 - "Afterpay forced to act on under-age alcohol buying after Mickey Mouse report"
https://bit.ly/2WIRUSw
