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The Latest Breaking News from AUSTRAC

Pokies giant taken to court over money laundering gaps

A financial regulator is launching legal action against Mounties, a club which operates some 1400 poker machines, over alleged money laundering risk failures.

AAP

Australian authorities say top crypto ATM users are scam victims and money mules — most transactions from victims or mules forced to deposit money into the machines

Scammers are using crypto ATMs as a tool to defraud victims out of their savings.

Tom’s Hardware

The Star cries poor, labels $400m fine a casino killer

The Star has said it will not survive being fined $400 million after admitting to lax anti-money laundering measures and courting high-risk gamblers.

AAP

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'High risk': The Star's $167m credit to money launderer

The scale of The Star casino's enabling of billions of dollars in risky transactions, including from at least one money launderer, has been exposed in court.

AAP

The Star faces $400m implosion over crime concerns

Backpacks full of cash, concealed transactions and gamblers with criminal links were ignored by The Star casino, which faces a fine of $400 million or more.

AAP

Hammer falls on crypto ATMs over scams, laundering

Australia's adoption and use of cryptocurrency ATMs is on the rise, but so too is their use to scam society's most vulnerable out of millions of dollars.

AAP

Third executive quits gambling giant as company battles ongoing money laundering case

Exclusive: Lachlan Fitt, who served as chief financial officer of Entain Australia since 2018, resigns from company that runs Ladbrokes and Neds brands

The Guardian - AU

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CEO of Ladbrokes owner Entain steps down after five months in role

Company will be run on an interim basis by the chair, Stella David, after exit of Gavin Isaacs

The Guardian - UK

Ladbrokes owner took $152m from customers with ‘suspected criminal associations’, court documents claim

Gambling giant, which runs Ladbrokes and Neds, was aware patrons may have been laundering money, according to federal court documents

The Guardian - AU

Entain sued by Australian regulator over money laundering allegations

Australia’s financial crime regulator said Entain’s activities in the country left it at ‘serious risk of criminal exploitation’.

The Independent UK

Banks and bookmakers tricked by ‘sophisticated’ gambling syndicate may have breached anti-money laundering laws

Exclusive: Documents seen by Guardian Australia show syndicate placed bets with Sportsbet while using another person’s name

The Guardian - AU

Your ID for $400: warnings issued after Australian gambling syndicates offer money for documents

Gamblers say the ‘bowler accounts’ are used for legitimate bets, while concerns raised about potential money laundering

The Guardian - AU

Australia aims to bolster Pacific banking, labour visa

The federal government is working on a solution to ensure a major bank maintains services in the Pacific while bolstering the integrity of financial systems.

AAP

Criminals and corrupt officials may find it easier to launder money in Australia if lawyers given more powers

Law Council of Australia rejects claims the profession presents a ‘significant risk of money laundering and terrorist financing’

The Guardian - AU

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The Conversation

Australia’s professional services sector is being used to launder money. It’s time for tougher laws

Australia’s stable political and legal systems – and relatively resilient economy – make it an attractive place to do business.

The Guardian - AU

‘A long way to go’ on combating domestic violence, PM says – as it happened

This blog is now closed.

AAP

Perth Mint urged to come clean on finance law breaches

A clear statement of governance failures is needed from Perth Mint on events leading up to breaches of terrorism financing and laundering laws, a report says.

AAP

Adelaide casino to pay costs on top of $67m penalty

SkyCity Adelaide will have to pay $3 million costs to the regulator on top of a $67 million penalty for admitted breaches of anti-money laundering legislation.

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AAP

Fines up 750-fold for casinos behaving badly in SA

South Australia plans to up the maximum fine for casinos in the state from $100,000 to $75 million as misconduct of operators across the country comes to light.

Top News

Australia Fines Macquarie Bank .4 Million For Compliance Failure

AUSTRAC fines Macquarie Bank .4 million for anti-money laundering breaches, emphasizing compliance importance.

AAP

Chinese gang accused of laundering $39 million in cash

Four Melbourne men have been charged, accused of being members of a Chinese criminal syndicate that laundered more than $39 million in cash.

The Guardian - AU

Sports gambling giants face ‘wake-up call’ as Australian money-laundering investigation nears end

Austrac inquiry into Sportsbet, Ladbrokes and Bet365 could influence government regulation amid calls for total ban on gambling ads

AAP

Perth Mint getting act together but still breaching law

A parliamentary committee has been told Perth Mint is getting its act together but continues to breach money laundering and counter-terrorism financing laws.

AAP

Perth Mint told to step up anti-money laundering effort

The Perth Mint has avoided a fine from the financial regulator but will be required to prove it can meet anti-money laundering laws.

The Guardian - AU

Horse racing industry not equipped to tackle money laundering, organised crime expert says

Horse racing provides the perfect cover for money laundering and more needs to be done to crack down on it, ex-AFP officer says

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