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I thought in Australia all we had to do was open a tobacco shop, put in a self loading cash ATM and off you go.
by langfo 1y ago
I thought in Australia all we had to do was open a tobacco shop, put in a self loading cash ATM and off you go.
- defrost 1y agoThe lesson they should have learned from Commonwealth Bank is KYC, Know Your Criminals: “But if they don’t understand local money laundering and terrorism financing risks, they are failing to meet” obligations around such activities in Australia. ComBank knew how to put a tray of ANZAC biscuits out, provide little tin MoneyBanks with a slot for the CrimJrs, and partner in FrequentFlyer points with QUANTAS. According to the article Binance Australia seems under resourced for such things: Austrac also raised concerns about high staff turnover along with a lack of local resourcing and senior management oversight at the Australian unit of Binance, the world’s largest crypto exchange by volume.