November 25 2019
This was the key finding of an independent external audit, ordered by Australia’s financial intelligence regulator in June, to investigate whether Afterpay was complying with Australia’s anti-money laundering laws.
Investors piled into Afterpay’s shares after the company announced the findings to the ASX on Monday, which led to its share price surging by 7.4 per cent to $32.73 by 2:10pm (AEST).
However, the buy now, pay later company was found to have committed breaches of anti-money laundering laws during its first two years of business (February 2015 to November 2016).
