Chanticleer

AUSTRAC’s mad Monday hits NAB and casino giants

AUSTRAC has reminded corporate Australia why it’s the country’s most feared regulator, launching enforcement engagement across three big companies.

Updated Jun 7, 2021 – 6.55pm, first published at 11.47am

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Australia’s most feared regulator has given the ASX a reminder of its power by delivering a serious case of Mondayitis to NAB chief executive Ross McEwan, beleaguered casino giant Crown Resorts, would-be merger partner The Star Entertainment Group, and Kiwi casino operator SkyCity Entertainment.

The quartet, which has a combined market value of $102 billion, announced within minutes of each other on Monday morning that they were facing enforcement investigations by the anti-money laundering regulator AUSTRAC, which is led by relentless chief executive Nicole Rose.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.