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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.
Australia’s financial crimes agency has sounded the alarm on organised crime risks at two casinos in Far North Queensland and the Northern Territory.
Two class actions against Commonwealth Bank have partially succeeded on appeal, with a finding that the bank breached its continuous disclosure obligations, but damages still elude shareholders.
Embattled casino operator The Star says a trial in AUSTRAC's case should not be delayed until the finalisation of a $300 million buyout offer from Balley’s, as suggested by the financial crimes watchdog.
AUSTRAC has sought to suppress parts of its case against the operator of online gambling sites Ladbrokes and Neds, arguing the information should not get into the hands of criminals.
A judge hearing two enforcement cases by regulators against embattled casino operator Star Entertainment has flagged the potential appearance of bias if he continues to preside over both proceedings.
The operator of online gambling sites Ladbrokes and Neds has been taken to court by AUSTRAC for alleged “systemic” money laundering compliance failures.
CBA has attacked two failed class actions' "misguided" appeal, arguing that requiring companies to disclose incomplete information to shareholders would distort the market.
The Full Court has heard that a judge's finding on materiality in two failed shareholder class actions against CBA could have “troubling” repercussions for insider trading cases and must be overturned.
Two failed class actions against CBA claim a judge used a “far too onerous test” for materiality in deciding whether the bank should have told the market about deficiencies in its anti-money laundering systems.