By AML Intelligence Correspondent SkyCity has agreed to an AUS$67 million penalty after admitting a series of AML failures at its Adelaide casino. In a statement AUSTRAC, the Australian government’s financial intelligence agency, said it and SkyCity Adelaide filed joint submissions with the Federal Court of Australia. In December 2022 AUSTRAC launched a Federal Court…
NEWS:Casino firm SkyCity agrees to $67m penalty from AUSTRAC over AML failures
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FINE: Brendan Thomas, AUSTRAC’s chief executive, said AUSTRAC took this action “out of concern that SkyCity’s conduct meant that a range of high-risk practices, behaviours and customer relationships were allowed to continue unchecked for many years”.