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Can’t afford it: Crown warns changes to AUSTRAC deal could be fatal

Zoe Samios

Casino giant Crown Resorts has warned the Federal Court it cannot afford a hefty $450 million fine for breaching anti-money laundering and counter-terrorism laws unless it can be paid in instalments over a two-year period without incurring interest.

Australia’s financial crime regulator and Crown agreed in May to a $450 million proposed settlement for contraventions at its Melbourne and Perth casinos, which the Federal Court will ultimately approve or reject.

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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com

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    Original URL: https://www.afr.com/companies/games-and-wagering/can-t-afford-it-crown-warns-changes-to-austrac-deal-could-be-fatal-20230710-p5dn1c