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The Latest Breaking News from AUSTRAC

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.

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.

AAP

Australia Fines Macquarie Bank .4 Million For Compliance Failure

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

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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.

AAP

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

The Guardian - AU

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.

AAP

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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

The Guardian - AU

$450 million Crown fine paints expensive picture for SkyCity

Crown Resort's massive fine gives some idea of what SkyCity may face over money laundering failures

Newsroom.co.nz

Australian casino group fined US$290m for lax controls

SYDNEY: Australia's Crown Resorts is set to pay a civil penalty of A$450 million (US$290 million) for lax money laundering controls that saw cash being carried into a casino in paper bags, shoe boxes and suitcases.

Bangkok Post

Adelaide's SkyCity casino is coming under increasing scrutiny — here's a look at why

South Australian authorities have ramped up monitoring of the state's only licensed casino, amid allegations of serious and systemic non-compliance with anti-money laundering and counter-terrorism financing laws, as Isabel Dayman explains.

ABC News

Listen! The simple thing the finance sector can do for Indigenous customers that can change people's lives

The story of the Aboriginal Community Benefit Fund, whose name and marketing misled thousands of customers into believing it was Indigenous owned and run, is a stark example of how Australia’s financial regulations have let down Indigenous people.

The Conversation

Chair says Perth Mint ‘co-operating’ with financial crime auditors

Perth Mint is learning from "past mistakes" and co-operating fully with an investigation by the financial crime regulator, its chair says.

The New Daily

Perth Mint 'co-operating' with financial crime auditors

Chairman Sam Walsh insists Perth Mint has improved its processes as an audit examines historical non-compliance with anti-money laundering obligations.

AAP

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ABC News

Company running Perth Mint cryptocurrency withdraws support, but questions linger over future of GoldPass app

The company that runs the Perth Mint's cryptocurrency announces it will no longer support the digital tokens because of alleged breaches of Australian and US laws by the mint.

ABC News

The AFP turns its focus to crushing the 'lifeblood' of organised crime in Australia — money laundering

Money mules, cash houses and even real estate purchases are being used to clean billions of dollars worth of ill-gotten gains in Australia each year. A new multi-agency taskforce has been set up to crush syndicates.

The New Daily

Taskforce to drain lifeblood from rife money launderers

Money laundering is widespread across Australia's financial and property markets, law enforcement agencies say.

AAP

Money laundering rife in financial, property markets

Money laundering doesn't just happen in the movies and is widespread across Australia's financial and property markets, law enforcement agencies say.

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ABC News

Here's what you need to know about the Perth Mint controversy — and why it matters

As the London Bullion Market Association launches a probe into allegations surrounding the Perth Mint, here's what you need to know about the controversy.

The Guardian - AU

Second anti-money laundering unit formed to crack down on ‘high-risk’ Australian gambling industry

Watchdog has warned industry officials it had ‘identified serious non-compliance in a number of businesses’

The New Daily

Gold ‘doping’ revelations damage reputation of Perth Mint

Perth Mint's international reputation has been damaged by gold "doping" revelations and past anti-money laundering failures.

AAP

Scrutiny over Perth Mint's gold sale to former bikie

Already under external audit, Perth Mint is facing questions over its sale of gold to a former bikie who allegedly only had to show his driver's licence.

ABC News

Taxpayer-owned Perth Mint sells gold to a notorious former bikie without asking questions

A Four Corners investigation uncovers major holes in the money laundering defences of Australia's biggest mint — failings that could cost taxpayers billions of dollars.

The Guardian - AU

No questions asked: money laundering thrives in Australia because of professionals willing to facilitate it

Lawyers, accountants and real estate agents can face little scrutiny and there is as yet no action from government to increase regulation

AAP

Regulator's Crown case 'slower than carving up Europe'

AUSTRAC's money laundering lawsuit against Crown has been criticised as taking longer than the divvying up of Europe after Napoleon Bonaparte's downfall.

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