Shares in buy-now, pay-later provider Afterpay fell by 11.5 per cent after it was ordered by the financial intelligence agency to appoint an external auditor to scrutinise its compliance with anti-money-laundering laws.
Thursday's announcement by the Australian Transaction Reports and Analysis Centre that it was concerned about Afterpay's compliance with anti-money-laundering laws, came just days after a $317.4 million capital raising and $100 million founder sell-down.
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
