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The Commonwealth Bank of Australia faces trial Monday in one of several class actions filed against a major Australian company in recent years over allegedly lax money laundering practices and disclosures.
Sportsbet and Bet365 face an audit by AUSTRAC over their compliance with anti-money laundering and counter-terrorism financing laws.
AUSTRAC has appointed an external auditor to Perth Mint, Australia's official bullion mint, to assess its compliance with anti-money laundering and counter-terrorism financing laws.
National Australia Bank has avoided enforcement action and entered into an undertaking with AUSTRAC to settle an investigation into compliance with anti-money laundering and counter-terrorism financing laws.
Financial crimes watchdog AUSTRAC is investigating whether three companies in the Bell Financial Group have contravened anti-money laundering and counter-terrorism financing rules.
AUSTRAC has expanded into investigation into Star Entertainment's compliance with anti-money laundering laws, two months after a third law firm announced a shareholder class action investigation into the casino operator on the back of damning media reports.
The Commonwealth Bank of Australia has failed in its bid to dismiss a case brought by customers who claim they were the victims of "cuckoo-smurfing" and had funds seized as proceeds of crime because the bank breached its anti-money laundering obligations.
The judge overseeing class actions against Commonwealth Bank over its money laundering compliance failures has threatened to force the parties to go to trial by a certain date if they can't agree to "sensible" time limits to ready the case for hearing, noting he would reach retirement age in 2024.
Crown Resorts admitted Monday that it broke a state law at its Melbourne casino over a five-year period and revealed the financial crimes regulator has expanded its money laundering investigation to include the company's Perth casino.
AUSTRAC's long-running investigation into NAB's compliance with anti-money laundering and counter-terrorism financing laws has progressed, with the matter being referred to the financial crime regulator's enforcement team.