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​Australia-Vietnam money-transfer business faces criminal charges over price-fixing

( April 10, 2019, 23:09 GMT | Official Statement) -- MLex Summary: An Australian money-transfer business and five individuals have been charged with criminal-cartel offenses, with Australia prosecutors alleging those charged fixed the exchange rate between the Australian dollar and the Vietnamese dong and agreed to the fees they charged customers. The Australian Competition & Consumer Commission, or ACCC, said in a statement today that the charges are being brought by Australia’s federal prosecutor, the Commonwealth Director of Public Prosecutions, following a joint investigation by the Australian Federal Police and the ACCC into price fixing among several Sydney- and Melbourne-based money-transfer businesses. The charges relate to exchange rates and transaction fees charged between 2011 and 2016.Full ACCC statement follows: ...

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