The influx of data from digital transactions means it should be easier than ever to comply with anti-money laundering and counter-terrorism laws, says the chief executive of international money transfer disrupter TransferWise.
The boom in digital payments made compliance easier for financial services companies such as TransferWise, which has operated in Australia for the past four years and processes $US7 billion ($10 billion) of foreign transfers for customers around the world each month, said Taavet Hinrikus.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
