us queries paypal in money laundering probe
Last Updated : GMT 06:49:16
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Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US queries PayPal in money laundering probe

Arab Today, arab today

Arab Today, arab today US queries PayPal in money laundering probe

PayPal
San Francisco - AFP

US authorities have demanded information from online payment service PayPal as part of a money laundering investigation, according to a regulatory filing available on Wednesday.

"We have received subpoenas from the US Department of Justice seeking the production of certain information related to our historical anti-money laundering program," Silicon Valley-based PayPal said in an annual report to the US Securities and Exchange Commission.

PayPal noted that it was cooperating with authorities and did not speculate on the outcome of the investigation. No further details were provided.

The news appeared to weigh slightly on PayPal shares, which were down more than 1.5 percent to $40.24 in after-market trades on the Nasdaq.

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