Risk of frictionless payments

You asked, we answered. We're doing a much-requested episode on "Australian" fintech Airwallex, which has gotten a lot of untoward attention of late — anti-money laundering audits, accusations by American VCs of being a financial backdoor to China. But there's a bigger story here: the proliferation of payments companies doing a big land grab from traditional financial institutions, and quickly learning that regulation and bank policy exists for a reason.

We take a crash course of Airwallex, its current controversies, and where it fits into the bigger payments story.

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