Adelaide Casino offers A$67m money laundering fine

BTN News
Sunday, 19 May 2024
Australia's SkyCity Adelaide casino (SkyCity) and the Australian Transaction Reports and Analysis Centre (AUSTRAC)* have filed joint submissions with the Federal Court of Australia proposing a A$67 million penalty for the casino’s contravention of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

 

At a court hearing on 7 June 2024, Justice Lee will consider the parties’ proposed settlement.

While AUSTRAC and SkyCity agree that a A$67 million penalty is appropriate in all the circumstances, it is a matter for the court to decide.

*AUSTRAC is Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regulator and financial intelligence unit.

Adelaide Casino offers A$67m money laundering fine

BTN News
Sunday, 19 May 2024
Australia's SkyCity Adelaide casino (SkyCity) and the Australian Transaction Reports and Analysis Centre (AUSTRAC)* have filed joint submissions with the Federal Court of Australia proposing a A$67 million penalty for the casino’s contravention of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

 

At a court hearing on 7 June 2024, Justice Lee will consider the parties’ proposed settlement.

While AUSTRAC and SkyCity agree that a A$67 million penalty is appropriate in all the circumstances, it is a matter for the court to decide.

*AUSTRAC is Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) regulator and financial intelligence unit.