The Australian Transaction Reports and Analysis Centre (Austrac) announced on Wednesday it has concluded its investigation into Afterpay, having decided it will not pursue any further regulatory action.

Austrac ordered the appointment of an external auditor into Afterpay’s Australian operations in June last year. Specifically, the regulator asked for the examination of Afterpay’s compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

“In response to the findings and recommendations identified in the external audit report, Afterpay has uplifted its AML/CTF compliance framework and financial crime function, and completed all remediation necessary to ensure compliance,” Austrac wrote on Wednesday.

“After considering the report and the response by Afterpay, Austrac has decided not to undertake further regulatory action.

Austrac said it has “reiterated the importance” for Afterpay to meet its compliance obligations in the future, and that it would continue to work with the company to ensure it understands the compliance obligations it has, as well as its role in fighting financial crime.

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The regulator took the opportunity to remind new and emerging financial services businesses that they may have obligations under the AML/CTF Act.  

“Startup ventures and technology-based financial businesses must consider whether they have AML/CTF obligations and if they do put in place systems and controls that identify and mitigate money laundering and terrorism financing risks,” Austrac said.

Austrac in September asked for a similar investigation of PayPal, with the examination to focus on “ongoing concerns” regarding the Australian arm’s compliance with the AML/CTF Act.

These concerns relate to PayPal Australia’s compliance with its International Funds Transfer Instruction reporting obligations.

However, Austrac in March announced an extension was granted to the auditors, taking into consideration the scope of the audit, the size, and complexity

Pope FrancisPope FrancisPope: Pandemic shows ‘trickle-down’ economic policies don’t work Pope declined to meet with Pompeo Pompeo calls on Vatican to denounce China for human rights abuses MORE met with around a dozen investigators from the Council of Europe’s agency involved with investigating financial crimes on Thursday and pledged that the Vatican would uphold “clean” finances.

The Associated Press reported that the Pope met with a team from Moneyval at the Vatican, where he praised their efforts aimed at “monitoring movements of money and of intervening in cases where irregular or even criminal activities are detected.”

“The measures that you are evaluating are meant to promote a ‘clean finance’, in which the merchants are prevented from speculating in that sacred temple which, in accordance with the Creator’s plan of love, is humanity,” said the Pope, according to the AP.

His meeting with the investigators comes as the Vatican has faced criticism over a decision by Francis’s former top deputy, Cardinal Angelo Becciu, to wire a sum of euros equaling just over $100,000 to a charity controlled by his brother. Becciu also reportedly urged a conference of Italian bishops make a $300,000 donation to the same charity.

Becciu has admitted the actions, but insisted that he did so solely out of support for the charity.

The visit from the Moneyval investigators was not reportedly linked to the scandal specifically; the Vatican, along with other European countries, submits itself to the agency for periodic review of its financial practices.

“Sometimes, in the effort to amass wealth, there is little concern for where it comes from, the more or less legitimate activities that may have produced it, and the mechanisms of exploitation that may be behind it,” the Pope reportedly told the investigators Thursday. “Thus, situations can occur where, in touching money,