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# AUSTRAC Orders External Compliance Audit of Australian Fintech Airwallex Over AML/CTF Concerns
- URL: https://www.theglobalbanker.com/austrac-external-compliance-audit-airwallex-aml-ctf-concerns/
- Published: 2026-01-22T18:30:00.000Z
- Updated: 2026-11-03T22:59:16.000Z
- Description: Australia's AUSTRAC has ordered an external audit of Airwallex over suspected AML/CTF control weaknesses, covering customer due diligence and transaction monitoring.
- Author: TGB Editorial Team
- Tags: Regulations, Asia-Pacific, #archive

Australia's financial intelligence and regulatory agency AUSTRAC ordered an external compliance audit of Airwallex on 22 January 2026, citing suspected weaknesses in the Melbourne-founded fintech's anti-money laundering and counter-terrorism financing controls. 

AUSTRAC's audit order covers areas of Airwallex's compliance programme including customer due-diligence processes, transaction-monitoring systems, suspicious-matter reporting procedures and senior management oversight. 

#### SCOPE OF THE AUDIT AND AIRWALLEX'S RESPONSE

The external audit will be conducted by an independent compliance specialist appointed under AUSTRAC's regulatory framework. Airwallex said it would cooperate fully, welcomed the audit as an opportunity to independently validate its AML/CTF programme and said its compliance framework was fit for purpose. 

Airwallex operates as a registered reporting entity under Australian AML/CTF legislation, which obliges it to maintain systems for identifying customers, monitoring transactions for suspicious activity, and reporting to AUSTRAC when it identifies matters of concern. 

#### REGULATORY CONTEXT

An external audit order is not a formal enforcement action; the audit findings will be reported to AUSTRAC.

Under the order, Airwallex must appoint an external auditor within 14 days, and the auditor must report its findings to AUSTRAC within 180 days of appointment, at Airwallex's cost. AUSTRAC's order does not constitute a suspension or restriction of Airwallex's authorisation to conduct business in Australia.