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Briefs: PayPal dobs itself in to Austrac, Aust Finance Group adds Granite

PayPal Australia Pty Limited has self-reported a potential violation to AUSTRAC and is working with an external auditor  to review certain aspects of PayPal’s compliance with its obligations under the AML/CTF Act. The external auditor is due to issue a final report on August 31, 2020. Australian Finance Group has added Granite Home Loans to its panel as a provider of loans to self-managed superannuation funds. SMSF loans are a rarity these days but Granite has made unusual offerings its speciality. It also sells no-deposit no-LMI home loans for professionals. Granite has been in the market since late 2018. Its founders are former CoreLogic executive Craig McKenzie, former Genworth executive Yianni Socratous and another former Genworth executive Bridget Sakr.

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