AUSTRAC
Chinese gangsters accused of laundering $228m through business spruiked by ex-minister
Police swooped on suspected members of the “Long River” Australia-wide crime syndicate, accusing them of serious financial crime.
- by Nick McKenzie
Latest
Opinion
Casinos
Star is all out of cards if second rescue bid falls over
If a combined $1.6 billion rescue doesn’t do the trick, Star chief Robbie Cooke would be well aware that he can’t take a third bite at the equity apple.
- by Elizabeth Knight
How this executive is readying for a boom in financial crime reporting requirements
The federal government is considering new rules that would require real estate agents, accountants and lawyers to report suspicious transactions. But are these industries ready?
- by Sarah Danckert
Federal Court approves $450 million Crown penalty for ‘very egregious conduct’
Crown Resorts and financial crimes regulator AUSTRAC agreed to an accelerated payment schedule if the casino operator’s financial health improves.
- by Colin Kruger
Opinion
Casinos
‘Fine now, pay later’: Crown, AUSTRAC bait and switch blown apart
Paying fines in instalments has become an increasingly familiar theme in the casino sphere, as Star and Crown suggest their stretched finances can’t deal with the regulatory onslaught without help.
- by Elizabeth Knight
Corporate scandals deliver collateral damage to regulators
Federal Court’s Justice Michael Lee put regulator AUSTRAC through the wringer rather than apply a rubber stamp to the $450 million fine negotiated with casino operator Crown.
- by Elizabeth Knight
‘How did this not trigger alarm bells?’ Spotlight on NAB’s failings in major fraud
NAB’s easy escape from a big fine from the financial crime regulator raised eyebrows. A major fraud case casts doubt on whether the bank has changed its ways.
- by Sarah Danckert
Opinion
Ask an expert
Why won’t the government let me withdraw $50,000 in cash?
If you need to withdraw a significant sum of cash – such as to pay builders – do so with extreme caution.
- by Noel Whittaker
Updated
Bank of Queensland
Investors dump BOQ after compliance failures revealed
Regulators say Bank of Queensland has breached prudential standards and fallen short in its compliance with anti-money laundering laws.
- by Clancy Yeates
Updated
Casinos
Crown Resorts and AUSTRAC agree to $450 million penalty
Crown Resorts is bracing to pay one of the biggest financial penalties in Australian corporate history over the group’s anti-money laundering and counter-terrorism failings at Crown Perth and Crown Melbourne.
- by Amelia McGuire
Updated
Casinos
Hefty fines on the cards as watchdog drags Star to court
The casino operator is facing fines totalling hundreds of millions of dollars after AUSTRAC launched civil penalty proceedings against it for alleged systemic non-compliance with anti-money laundering laws.
- by Amelia McGuire