In the Gambling Dictionary: Anti-Money Laundering (AML)
The Federal Court of Australia has ordered The Star Entertainment Group to pay US$182 million over anti-money laundering and counter-terrorism financing failures, a figure set below the AU$400 million AUSTRAC had suggested to the court.
Australia's Federal Court has ordered The Star Entertainment Group to pay a A$260m penalty after AUSTRAC proceedings over anti-money laundering failures, with the court finding more than 1,200 high-risk customers gambled through channels carrying significant money laundering risk.
Justice Cameron Moore ordered The Star Entertainment Group to pay A$260 million (US$183 million) for breaching Australia's AML/CTF laws, landing between AUSTRAC's A$400 million demand and the operator's A$100 million submission.
