Adelaide Casino to Pay Costs on Top of $67 Million Penalty

Published on June 8, 2024

An Adelaide casino will pay a watchdog’s costs of pursuing it for $67 million (US$44.6 million) in penalties. The Australian Transaction Reports and Analysis Centre (AUSTRAC) launched civil action against SkyCity Adelaide in December 2022, alleging the casino breached money laundering and counter-terrorism financing laws. The regulator and the casino agreed to a $67 million penalty in May, given the casino’s co-operation and admission to the unlawful conduct between 2016 and 2022. The casino failed to meet its requirements and did not carry out appropriate ongoing customer analysis. AUSTRAC said SkyCity allowed high-risk customers to move millions of dollars through the casino, in ways that obscured the source of the funds. ...

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