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ABC News
ABC News
Business
business reporter Kate Ainsworth

Crown Resorts and AUSTRAC agree to $450 million fine over money laundering breaches

The breaches occurred at Crown's Melbourne and Perth casinos. (ABC News: Andrew O'Connor)

Crown Resorts and the Australian Transaction Reports and Analysis Centre (AUSTRAC) have agreed to a $450 million penalty over historical breaches of Australia's anti-money laundering laws at its Melbourne and Perth casinos.

In reaching the agreement with the government financial intelligence agency, Crown has admitted that it operated in contravention of the Anti-Money Laundering and Counter-Terrorism Financing Act.

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