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The Latest Breaking News from AUSTRAC

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

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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

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 Conversation

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

This blog is now closed.

The Guardian - AU

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.

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.

Top News

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

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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

Newsroom.co.nz

$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

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Bangkok Post

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.

ABC News

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.

The Conversation

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 New Daily

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.

AAP

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.

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.

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