AUSTRAC has launched an investigation into Bendigo and Adelaide Bank’s compliance with anti-money laundering laws, as APRA directs the bank to hold a capital add-on of $50 million.
A SkyCity shareholder has lost his bid to bring a case against former executives and directors at the ASX-listed casino seeking to recoup a $67 million penalty over breaches of money laundering regulations.
A Deloitte review has found lax compliance with anti-money laundering rules by Bendigo Bank over a six-year period.
AUSTRAC would get new powers to restrict or ban certain high-risk products, services or delivery channels, such as crypto ATMs, under legislation being proposed by home affairs minister.
The financial crimes regulator has trimmed its case against the operator of online gambling sites Ladbrokes and Neds, UK-based Entain, alleging “systemic failure” to comply with its anti-money laundering obligations.
The financial crimes regulator has ordered the Australian unit of the world’s largest crypto exchange, Binance, to appoint an external auditor after flagging concerns about its anti-money laundering and counter-terrorism financing compliance.
AUSTRAC has launched proceedings against gaming club group Mounties, alleging the company engaged in serious and systemic non-compliance with anti-money laundering and counter terrorism financing laws.
A SkyCity shareholder is seeking leave to launch a case against former executives and directors for their alleged role in the mismanagement of the casino’s money laundering risk, which last year resulted in a $67 million penalty.
AUSTRAC has ordered an external audit of international funds company Western Union after sounding the alarm about its compliance with anti-money laundering regulations.
AUSTRAC wants Star to pay a $400 million penalty for breaching anti-money laundering and counter-terrorism financing laws, while the company claims a penalty of more than $100 million would tip it into liquidation.