This Month
- Exclusive
- Casinos
Crown Resorts wants to add pokies to the mix at its Sydney casino
The Blackstone-owned hospitality and gambling giant has been prohibited from installing gaming machines under terms struck when it secured its NSW licence.
- Zoe Samios
AUSTRAC sues Ladbrokes and Neds owner
Entain allegedly did not conduct appropriate checks on 17 high-risk customers and deliberately obscured the identity of some through use of pseudonyms.
- Zoe Samios
Tough new dirty money rules to disrupt $60b in criminal activity
The head of Australia’s financial crime watchdog says gaps in anti-money laundering and terror financing rules have been exploited by criminals for too long.
- Tom McIlroy
November
- Exclusive
- Property market
Why buying and selling a home is about to cost $1200 more
Amid Australia’s growing housing crisis, a new crackdown on money laundering is expected to add significant extra costs to property transactions.
- Tom McIlroy
- Exclusive
- Legal profession
Barristers brand anti-money-laundering laws ‘unconstitutional’
Bar associations have leant on advice from a former High Court judge in their latest effort to carve out an exemption to AML/CTF reforms.
- Maxim Shanahan
Barristers seek exemption from tougher money-laundering laws
Bar associations are concerned draft AML/CTF legislation will force them to conduct due diligence on clients already conducted by instructing solicitors.
- Maxim Shanahan
October
- Updated
- Franchising
BoQ accused of short-changing franchisees in buyout
BoQ undervalued franchisee shopfronts in a corporate takeover push and artificially deflated commission payments, a letter to the board alleges.
- Updated
- Lucas Baird
Labor, Coalition clash over laws for lawyers, accountants, realtors
Shadow attorney-general Michaelia Cash roundly criticised plans to expand anti-money laundering laws to the three professions.
- Ronald Mizen
August
- Opinion
- Retail
Business CEOs push back on political grandstanding
Big business makes mistakes as well as money, but chief executives like CBA’s Matt Comyn and Wesfarmers’ Rob Scott are pushing back against “fact-free” accusations.
- Jennifer Hewett
- Updated
- Banking products
Business model unsustainable, says BoQ, as it sacks 400 staff
The regional lender will take control of a long-standing franchise network in a $160 million bet on its survival.
- Updated
- Lucas Baird
July
Prudential watchdog halves $1b Westpac penalty
APRA will slash its $1 billion capital penalty levied on the bank four years after it was first implemented.
- Lucas Baird
- Exclusive
- White collar crime
Why diamond studded Swiss watches and luxury handbags worry AUSTRAC
The financial crimes watchdog’s chief executive Brendan Thomas says luxury goods along with cash and real estate have received its highest risk rating.
- Ronald Mizen
No backward step cutting off money flow to criminals: Dreyfus
The strong words from the attorney-general will come hours after the international body tasked with co-ordinating global AML/CTF efforts slams Australia’s performance.
- Ronald Mizen
May
- Exclusive
- Courts
Westpac sues insurers over $1.3b AUSTRAC penalty
AFR Weekend understands that the bank believes it is eligible to claim $400 million from its insurers over the AUSTRAC fine.
- Lucas Baird
- Exclusive
- Gaming & wagering
Brisbane developer emerges at centre of Star’s Hard Rock mystery
The Florida-based entertainment giant said it had not authorised its name for use, despite Star telling investors it had received a proposal.
- Updated
- Zoe Samios, Anthony Macdonald and Liam Walsh
SkyCity agrees to $67m penalty as licence decision looms
The case was based on allegations the company allowed high-risk patrons to gamble more than $4 billion in dirty cash through its casino.
- Zoe Samios
April
Crown Resorts finally gets the green light to run Sydney casino
The Blackstone-owned gaming giant had been subject to a string of restrictions after a NSW inquiry called into doubt its ability to properly run a casino.
- Zoe Samios
- Opinion
- Chanticleer
We still don’t know if Star has hit the bottom
Star’s chief risk officer says the casino operator is closer to the start of its turnaround plan than the end. That’s a worry for investors.
- James Thomson
- Exclusive
- Social media
TikTok referred to anti-money laundering authorities
The app’s gifting function, usually used to reward engaging streamers, had directed cash to terror-linked accounts.
- Nick Bonyhady
NSW clubs ‘acutely aware’ of money laundering laws
Lobby group ClubsNSW said its members had recently met with the financial crime watchdog to ensure they were complying with anti-money laundering laws.
- Ronald Mizen