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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.
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.