AUSTRAC
Updated
Bank of Queensland
Investors dump BOQ after compliance failures revealed
Regulators say Bank of Queensland has breached prudential standards and fallen short in its compliance with anti-money laundering laws.
- by Clancy Yeates
Latest
Updated
Casinos
Crown Resorts and AUSTRAC agree to $450 million penalty
Crown Resorts is bracing to pay one of the biggest financial penalties in Australian corporate history over the group’s anti-money laundering and counter-terrorism failings at Crown Perth and Crown Melbourne.
- by Amelia McGuire
Updated
Casinos
Hefty fines on the cards as watchdog drags Star to court
The casino operator is facing fines totalling hundreds of millions of dollars after AUSTRAC launched civil penalty proceedings against it for alleged systemic non-compliance with anti-money laundering laws.
- by Amelia McGuire
‘We need to take this extremely seriously’: Class action reopens ugly wounds of CBA scandal
A blow-by-blow account of one of the country’s biggest corporate scandals has been played in court, providing a picture of the inner workings of one of Australia’s largest financial institutions.
- by Simone Fox Koob
‘Law-breaking on a grand scale’: Court told CBA failed to disclose non-compliance to investors
A class action brought by CBA shareholders alleges the bank was aware of instances of non-compliance but failed to disclose it to the ASX.
- by Simone Fox Koob
Pubs strike deal with bookmaker in money-laundering rule probe
As authorities closed in on money laundering in the hospitality industry, the pubs lobby struck a deal with an online bookmaker in the crosshairs of an AUSTRAC investigation.
- by Harriet Alexander
AUSTRAC to probe Sportsbet, Bet365 over money laundering concerns
Two of the biggest bookmakers in Australia may face multimillion-dollar fines and severe regulatory interventions following an audit authorised by Australia’s financial crime watchdog.
- by Amelia McGuire
Updated
Gaming & wagering
Ladbrokes owner Entain faces AUSTRAC probe and potential million-dollar fine
Australia’s financial crimes watchdog will investigate if the gambling giant has complied with its anti-money laundering and counterterrorism financing obligations.
- by Amelia McGuire
Casino boss concedes some issues heard by NSW probe ‘would apply’ in Qld
The interim head of Star Entertainment has also told a parliamentary committee the company had not been fined for regulatory breaches in the past five years, as an inquiry into its state operations readies to begin.
- by Matt Dennien
From casinos to houses: Why Australia remains a money laundering haven
If Australia does not extend anti-money laundering laws to secondary professions, such as lawyers and accountants, then experts say money laundering will continue to thrive.
- by Anne Hyland
Austrac boss defends financial crimes regulator, says casinos must improve
The chief executive of financial intelligence agency Austrac, Nicole Rose, has rejected criticism it was overly focused on banks.
- by Clancy Yeates