Crown Resorts, the largest owner and operator of land-based casinos in Australia, has announced that Australia’s federal court has completed proceedings against the company for breaching anti-money laundering laws.
The casino operator was ordered to pay 450 million Australian dollars, as per an agreement the company reached with AUSTRAC (the Australian Transaction Reports and Analysis Centre) in May. The respective agreement was now approved by the Court, which ordered Crown Resorts to pay the agreed amount over the next two years.
The case started in March 2022, when AUSTRAC launched proceedings against Crown Resorts over multiple allegations regarding breaches of anti-money laundering laws and counter-terrorism financing failings at Crown Melbourne and Crown Perth.
The company has admitted its fault, mainly that its anti-money laundering and counter-terrorism financing programmes were not designed using appropriate risk assessments and also that the operator did not have adequate systems in place to manage such risks.