Doo Payment has been granted an independent remittance licence by the Australian Transaction Reports and Analysis Centre (AUSTRAC). The licence signifies that the company has met AUSTRAC’s standards for financial compliance and risk management, positioning it to expand its international operations.

The independent remittance licence allows Australian financial institutions to conduct cross-border transactions, fund transfers, and other financial services. According to Doo Payment, the company achieved this licencing by demonstrating strong capital reserves, a robust business model, and adherence to financial compliance standards. This endorsement is expected to support client trust and confidence in the company.

Expansion of remittance services With this new licence, Doo Payment is authorised to offer remittance services, catering to both individual and corporate clients. This development supports the company's aim to enhance its global payment network and improve its financial services. In addition to the AUSTRAC licence, Doo Payment holds several other international regulatory licences, including those from the United States Financial Crimes Enforcement Network (US FinCEN), the Financial Transactions and Reports Analysis Centre of Canada (CA FINTRAC), the Australian Securities and Investments Commission (ASIC), the Hong Kong Customs and Excise Department (HK C&ED), and Dubai’s Department of Economy and Tourism (DET).

Going forward, Doo Group and its subsidiaries plan to continue adhering to global financial regulations, focusing on enhancing their compliance and risk management practices to support sustainable business growth and service improvements. More information about AUSTRAC AUSTRAC, established in 1989, serves as Australia’s financial intelligence unit and regulatory authority for anti-money laundering (AML) and counter-terrorism financing (CFT). According to the AUSTRAC Money Laundering in Australia National Risk Assessment, Australia remains an attractive destination to store and integrate criminal proceeds because of its stable political system, open and free economy, independent legal system, well-developed financial services sector and strong real estate market.

However, Australia’s economy is exploited by money launderers. Lawful domestic financial channels remain fundamentally important pathways for money launderers to place, layer and integrate funds domestically and internationally. .