AUSTRAC warns online payment platforms to tighten AML/CTF controls after uncovering transfers funding child sexual exploitation, urging firms to detect, report, and block high-risk activity 

Austrac highlights serious compliance gaps such as poor transaction monitoring, underreporting of suspicious activity, and failure to identify high-risk behaviours, and urging firms to flag suspicious transactions promptly, close high-risk accounts, and ensure robust monitoring to help law enforcement disrupt global child-exploitation networks…