The Australian Transaction Reports and Analysis Centre (AUSTRAC) has filed papers in the country’s federal court accusing three subsidiaries of gaming operator Tabcorp of failing to comply with anti-money laundering and counter-terrorism financing laws.

AUSTRAC, which monitors gambling operators, financial service providers, bullion dealers, cash dealers and remittance service providers, has filed the charges following a comprehensive assessment of Tabcorp’s business, which faces a fine of up to AUS$17m.

The regulator claims to have identified a number of flaws in the operator’s money laundering controls...

Premium subscribers continue here to the full article.

 

Related