This Month
- 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
- Exclusive
- Organised crime
AUSTRAC targets clubs’ pokies in $70b money laundering crackdown
New CEO Brendan Thomas says “massive” clubs that rival Sydney’s Star casino and host three in four of the states pokies pose a “significant risk”.
- Ronald Mizen
March
Crown to keep casino licence but will ‘never be too big to fail’
The Victorian Gambling and Casino Control Commission has deemed Crown Melbourne suitable to keep its exclusive licence.
- Updated
- Gus McCubbing
CBA backs UK start-up improving screening for financial crime
Global Screening Services now counts CBA as a shareholder. It’s building standards for banks to check cross-border payments against sanctions lists.
- James Eyers
BoQ backs Temenos amid claims software provider selling ‘vapourware’
Activist investor Hindenburg Research alleges the company has employed aggressive accounting practices and sold faulty products to local lenders.
- Lucas Baird
Bet365 under investigation by AUSTRAC
The decision to investigate comes more than a year after AUSTRAC announced an independent audit of the bookmaker’s operations.
- Zoe Samios
February
- Updated
- Casinos
Star Sydney casino licence at risk again
The NSW regulator has launched a fresh inquiry into whether the $1.6 billion company had fixed major cultural failures at its Sydney casino.
- Updated
- Zoe Samios
Federal Court finds NAB fraud secrecy claim has ‘air of a Kafka novel’
Melbourne gold dealer Michael Kukulka has alleged the bank falsely identified him as a “scammer”. The lender’s attempt to keep the matter private has failed.
- Lucas Baird
- Analysis
- Online gambling
Bookmakers desperate for a win from AUSTRAC audits
Low discretionary spend, advertising bans and credit card deposits have made margins tight for the wagering sector. The financial crimes watchdog could make it a lot worse.
- Zoe Samios
January
Alleged money laundering ring funnelled cash into locked crypto wallet
Millions of dollars in customer funds are likely held in a secured crypto wallet “containing a substantial amount of tether tokens”, administrators said.
- Lucas Baird
Ord Minnett hoovers up Star shares with fingers pointed at Mathieson
The billionaire publican already controls about six per cent of the embattled casino operator. He is also a shareholder in the stockbroking firm.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Company at centre of money laundering case had $15m in user funds
Administrators told creditors of Chang Jiang Financial that he did not have access to most financial records as they were still held by police.
- Lucas Baird