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National Australia Bank has avoided enforcement action and entered into an undertaking with AUSTRAC to settle an investigation into compliance with anti-money laundering and counter-terrorism financing laws.
Financial crimes watchdog AUSTRAC is investigating whether three companies in the Bell Financial Group have contravened anti-money laundering and counter-terrorism financing rules.
AUSTRAC has expanded into investigation into Star Entertainment's compliance with anti-money laundering laws, two months after a third law firm announced a shareholder class action investigation into the casino operator on the back of damning media reports.
The Commonwealth Bank of Australia has failed in its bid to dismiss a case brought by customers who claim they were the victims of "cuckoo-smurfing" and had funds seized as proceeds of crime because the bank breached its anti-money laundering obligations.
The judge overseeing class actions against Commonwealth Bank over its money laundering compliance failures has threatened to force the parties to go to trial by a certain date if they can't agree to "sensible" time limits to ready the case for hearing, noting he would reach retirement age in 2024.
Crown Resorts admitted Monday that it broke a state law at its Melbourne casino over a five-year period and revealed the financial crimes regulator has expanded its money laundering investigation to include the company's Perth casino.
AUSTRAC's long-running investigation into NAB's compliance with anti-money laundering and counter-terrorism financing laws has progressed, with the matter being referred to the financial crime regulator's enforcement team.
AUSTRAC has taken enforcement action against military lender Australian Military Bank after accusing the bank of violating anti-money laundering, counter-terrorism finance laws.
Horizon Oil has won its bid to shield Herbert Smith Freehills documents advising the company did not breach foreign bribery laws from being revealed in a defamation lawsuit brought against Fairfax Media by a Papua New Guinea government Minister.
A royal commission has been established in Victoria to look into whether Crown Melbourne is suitable to hold a casino licence in the state, following a damning report from the NSW gaming authority.