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AUSTRAC Orders Airwallex Audit over AML and CTF Compliance Concerns

Fintech and Financial Services

Business Honor
23 January, 2026

Australia’s financial watchdog examines Airwallex’s transaction monitoring and reporting systems as fintech expands globally.

Australia-based financial anti-crime agency AUSTRAC announced that it would subject Airwallex to an Airwallex AML CTF audit Australia due to suspected AML and CTF breaches. This decision came after it identified that there could be oversight of its transaction monitoring system regarding some varying risks concerning Airwallex international payment monitoring oversight for international money transfer operations. AUSTRAC is Australia’s anti-money laundering and counter-terrorism finance watchdog.

In addition, AUSTRAC fintech compliance review 2026 found that fintech has not clearly defined its customer segments and identified the reporting requirements of other jurisdictions. “Our concerns also relate to how well Airwallex identifies and reports on suspicious matters and how they oversee that critical responsibility,” AUSTRAC Chief Executive Brendan Thomas said.

Similarly, Airwallex, which has offices in both Singapore and San Francisco and is backed by investors such as Tencent, DST Global, and Hillhouse Capital, has issued a statement affirming full cooperation in this process of independent external auditor review. The company has already undergone auditing in 2024 and has had its AML/CTF program validated in 2025 by an external auditor in Australia itself.

At the same time, Airwallex itself is expanding its geographic footprint. The firm has just acquired South Korea's Paynuri Co Ltd, which enables it to obtain payment licenses and local registration for a foreign exchange business in South Korea.

The move has been viewed by industry analysts as an extension of AUSTRAC’s regulatory oversight of fintechs that conduct operations in several markets. The review shows how much digital payment platforms need to enhance their compliance practices even as they expand operations globally. As Airwallex grows into new markets, transparent AML/CTF processes will be important to the continued trust by investors and global consumers.