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Cointree fined in Australia over failure to disclose suspicious transactions

( May 16, 2025, 06:51 GMT | Official Statement) -- MLex Summary: Australian digital-currency exchange provider Cointree has been fined A$75,120 ($48,268) over its alleged failure to submit timely suspicious-matter reports to the financial-crime watchdog. In a statement today, the Australian Transaction Reports and Analysis Centre, or Austrac, said the penalty followed Cointree’s voluntary disclosure that it hasn’t met the reporting timeframes required under 2006 Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act. In 2024, Austrac released the Money Laundering in Australia National Risk Assessment, which identified the digital currency exchange sector as being vulnerable to money laundering.Austrac's infringement notice is attached; the statement follows: ...

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