Most Recent
A court has heard that casino giants Crown and Star are likely to reach agreement with AUSTRAC as to liability in proceedings alleging “widespread and serious non-compliance” with anti-money and counter terrorism laundering laws.
AUSTRAC has launched court proceedings against SkyCity Adelaide for allegedly allowing more than $4 billion in suspicious customer transactions at its casino, including with cash that "appeared to have been buried".
AUSTRAC has filed Federal Court action against Star Entertainment, alleging “widespread and serious non-compliance” with anti-money laundering laws.
The former chief executive of Commonwealth Bank has told a court internal auditors raised issues with CBA's anti-money laundering and counter-terrorism financing compliance four years before AUSTRAC took action that saw the bank's share price plummet.
The Commonwealth Bank of Australia has argued that disclosing its money laundering failures before AUSTRAC brought proceedings would have misled the market, as the bank takes the rare move of defending a shareholder class action at trial.
While CBA's defence to a shareholder class action argues the bank did not need to disclose money laundering failures because it doubted AUSTRAC would take legal action, communications show it was drafting a defence six months before proceedings started, a trial has heard.
The Commonwealth Bank of Australia knew about a “catastrophic” code error that caused widespread non-compliance with money laundering rules two years before it was disclosed to the market, a court has been told in a rare shareholder class action trial.
The Commonwealth Bank of Australia faces trial Monday in one of several class actions filed against a major Australian company in recent years over allegedly lax money laundering practices and disclosures.
Sportsbet and Bet365 face an audit by AUSTRAC over their compliance with anti-money laundering and counter-terrorism financing laws.
AUSTRAC has appointed an external auditor to Perth Mint, Australia's official bullion mint, to assess its compliance with anti-money laundering and counter-terrorism financing laws.