Cash Converters International (ASX:CCV) has entered an Enforceable Undertaking (EU) with AUSTRAC following an investigation into their compliance with Australia's anti-money laundering and counter-terrorism financing (AML/CTF) laws.

The EU does not include a fine, but does require the company to complete a Remediation Acquittal Report by April 28, 2023 and appoint an External Auditor by June 30, 2023, among other things.

Cash Converters says it's committed to ongoing compliance with AML/CTF laws and taking steps to protect the community from money laundering and terrorism financing.

Its Managing Director, Sam Budiselik says over the past two years the company has undertaken an uplift program to address shortcomings identified during the course of AUSTRAC's investigation, resulting in a significant improvement in its compliance obligations.