- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-08-14T18:36:00
Australian gaming company SkyCity Entertainment Group disclosed it reserved 45 million Australian dollars (U.S. $29 million) for a potential settlement resolving alleged violations of the country’s anti-money laundering and combating the financing of terrorism (AML/CFT) law.
SkyCity, which operates five casinos in Australia and New Zealand, said in a notice Monday the monetary provision was booked for potential civil penalties levied by Australia’s financial regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC). The company acknowledged the penalty could be “significantly higher or lower than the provision” and said it was unsure of timing on a resolution.
In December, AUSTRAC announced its federal court proceeding against SkyCity Adelaide following an investigation into the casino commenced in June 2021.
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2024-09-10T14:29:00Z By Adrianne Appel
Wynn Las Vegas agreed to forfeit $130 million to settle a range of criminal allegations, including allegedly helping foreign customers hide money transfers and shielding patrons from Bank Secrecy Act and anti-money laundering rules, the Department of Justice said.
2024-05-21T16:59:00Z By Kyle Brasseur
Australian gaming company SkyCity Entertainment Group faces nearly $50 million in penalties for admitted breaches of anti-money laundering and countering financing of terrorism obligations in Australia and New Zealand.
2023-08-14T16:17:00Z By Paul Eccleson, for International Compliance Association
Assessing allegations of data manipulation in psychological studies involving a Harvard Business School professor, Paul Eccleson asks whether we can trust research on behavioral science.
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The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
2025-05-16T14:16:00Z By Aaron Nicodemus
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
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