The Australian Transaction Reports and Analysis Centre (‘AUSTRAC’) has recently published its first ‘Money Laundering and Terrorism Financing Risk Assessment: Stored Value Cards’ (‘SVC Assessment’), which analyses the potential of stored value cards (‘SVCs’) to be used for money laundering or terrorism financing (‘ML/TF’) purposes.

HWL Ebsworth Partner, Michael Anastas and Trainee Solicitor Elizabeth Singleton have provided a useful summary on the report in an article published in last month’s edition of Payments & FinTech Lawyer.

Click here to read the article.