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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.
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.