New Methods of Transferring Value Electronically

In recent years, electronic-based transactions have increased considerably in countries such as Australia, the United States and the United Kingdom. This is not surprising due to the reduced cost and increased speed of internet-based transactions in comparison with bricks-and-mortar based transactions. This information sheet outlines the various forms that electronic-based transactions can take including electronic payment systems, digital precious metals and online gaming and gambling, and discusses countermeasures to prevent money laundering activities.