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AUSTRAC

AUSTRAC Launches SkyCity Adelaide Penalty Proceedings

 The HALLO ECHO
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  The Australian Transaction Reports and Analysis Centre is launching civil penalty proceedings against SkyCity Adelaide for alleged serious and systemic anti-money laundering and counter-terrorism financing failures. AUSTRAC is looking into the operator after an enforcement investigation into SkyCity in June last year. The investigation was a result of an AUSTRAC industry-wide compliance campaign that…

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AUSTRAC Orders Audits of Sportsbet and Bet365

 The HALLO ECHO
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  AUSTRAC has ordered the appointment of external auditors under section 162 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to assess compliance of two corporate bookmakers, Sportsbet Pty Ltd (Sportsbet) and Hillside (Australia New Media) Pty Limited (Bet365). The appointed external auditor will be authorised by AUSTRAC to assess Sportsbet’s and…

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SkyCity Says South Australian AML, Suitability Investigations Ongoing

 The HALLO ECHO
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  New Zealand’s SkyCity Entertainment Group has confirmed it is continuing to work with Australian financial crimes watchdog AUSTRAC as well as the commissioner of an independent review as part of two separate and ongoing investigations into the operations of its Australian casino, SkyCity Adelaide. SkyCity was named in June 2021, alongside fellow casino operators…

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AUSTRAC Commences Investigation into Entain Group

 The HALLO ECHO
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  The Australian Transaction Reports and Analysis Centre (AUSTRAC) has commenced an enforcement investigation into Entain Group Pty Ltd. This follows an extensive supervisory campaign that assessed entities within the corporate bookmakers sector. The investigation will focus on whether Entain has complied with its obligations under the AML/CTF Act. AUSTRAC Chief Executive Officer, Nicole Rose,…

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AUSTRAC and VGCCC strengthen partnership through updated MOU

 The HALLO ECHO
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  AUSTRAC and the Victorian Gambling and Casino Control Commission (VGCCC) have strengthened their cooperation in the fight against serious financial crime through the signing of an updated Memorandum of Understanding (MOU). The MOU will enable AUSTRAC and VGCCC to share information to protect the community by strengthening the gambling sector against criminal abuse. AUSTRAC…

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AUSTRAC Launches Legal Action Against Crown for Alleged AML, CTF Breaches

 The HALLO ECHO
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  The Australian Transaction Reports and Analysis Centre (AUSTRAC) has commenced civil penalty proceedings in the Federal Court against Crown Melbourne and Crown Perth for alleged serious and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. This action follows proactive compliance work with the casino sector which led to a number of…

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