Crown Resorts and government financial intelligence agency AUSTRAC agree to a $450 million penalty over historical non-compliance with Australia's anti-money laundering laws.
Crown Resorts and the Australian Transaction Reports and Analysis Centre have agreed to a $450 million penalty over historical breaches of Australia's anti-money laundering laws at its Melbourne and Perth casinos.
As part of the settlement, Crown has admitted that it failed to assess the money laundering and terrorism financing risks facing its casinos, and did not have appropriate risk-based systems in place to mitigate the risks. In a statement, Crown Resorts said the decision marked "a significant step" in rectifying its "failings of the past".
"We take seriously the responsibility we have to the community, to law enforcement, to our industry and stakeholders to ensure that we continue to comply with our AML/CTF obligations.
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