Sydney-listed casino operator Crown Resorts has proposed to pay a AUD$450 million penalty to resolve civil penalty proceedings relating to historical money laundering breaches.
The agreement with Australia’s financial intelligence agency AUSTRAC relates to the company’s Crown Melbourne and Crown Perth casinos, which have filed joint submissions with the Federal Court of Australia over Crown’s breaches of the country’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
In reaching this agreement, Crown has admitted that it operated in contravention [...]
