Most Recent
The Commonwealth Bank has failed again to dismiss a case brought by customers who claim they were the victims of a money laundering scam known as cuckoo smurfing and had funds seized as proceeds of crime.
A judge has approved a $450 million penalty put forward by Crown Resorts and AUSTRAC despite reservations about evidence going to the casino operator’s financial position.
The judge asked to approve a proposed $450 million penalty in AUSTRAC’s case against Crown Resorts has questioned whether the practice of regulators settling enforcement action ahead of trial gave rise to a "moral hazard” problem.
Bank of Queensland has been called out by two regulators over its compliance with anti-money laundering and counter-terrorism financing laws and its risk management practices.
Crown Resorts has reached agreement with AUSTRAC to pay a $450 million penalty for the casino operator's serious breaches of the anti-money laundering and counter-terrorism financing laws.
The South Australia gambling commissioner has directed SkyCity Adelaide to appoint an independent expert to review its anti-money laundering and counter-terrorism financing programs after AUSTRAC alleged it allowed $4 billion in suspicious transactions at its casino.
Crown Resorts has reached agreement on a proposed penalty in AUSTRAC's case alleging “widespread and serious non-compliance” with anti-money laundering and counter terrorism financing laws, but the presiding judge says more information is needed for the court to fix a fine.
Star Entertainment has pleaded guilty in Queensland to seven charges of allowing the purchase of gambling chips with a credit card, months after being with a $100 million fine for violating the state's gambling laws.
Casino giant Crown has admitted to a "significant number" of anti-money laundering and counter terrorism breaches in a case brought by AUSTRAC.
The corporate regulator voiced concerns with Star Entertainment over its 2022 financial report, which it said made no provision for likely fines faced by the casino operator for lax compliance with money laundering laws.