Australia
AUSTRAC and SkyCity agree to proposed $67 million penalty

SkyCity Adelaide Pty Ltd (SkyCity) and AUSTRAC have filed joint submissions with the Federal Court of Australia, proposing a $67 million penalty over the casino’s contravention of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
A court hearing has been set down for 7 June 2024, at which Justice Lee will consider the parties’ proposed settlement.
While AUSTRAC and SkyCity agree that a $67 million penalty is appropriate in all the circumstances, it is a matter for the court to determine the appropriate penalty.
In reaching this agreement, SkyCity has admitted that it operated in contravention of the AML/CTF Act, including that:
- its AML/CTF Programs did not meet the requirements of the AML/CTF Act and AML/CTF Rules, in contravention of section 81.
- it did not carry out appropriate ongoing customer due diligence with respect to certain higher risk customers and customers transacting through higher risk channels, in contravention of section 36.
“AUSTRAC took this action out of concern that SkyCity’s conduct meant that a range of high-risk practices, behaviours and customer relationships were allowed to continue unchecked for many years,” AUSTRAC’s Chief Executive Officer, Brendan Thomas said.
Mr Thomas said the action serves as an important reminder to casinos and the gaming sector to take their AML/CTF obligations seriously and be vigilant to money laundering and terrorism financing risks.
As the matter is before the court for determination, AUSTRAC is unable to comment further on the proceedings.
-
Latest News5 days ago
ATG to Appoint New Board as Government Hands Over Control
-
Latest News5 days ago
Best New Online Casinos Europe: Top 8 2025
-
Africa5 days ago
INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER
-
Latest News5 days ago
Instant Withdrawal Crypto Casino – Best Crypto Casinos with Fast Payouts (2025)
-
Compliance Updates5 days ago
Navigating Legal Frontiers: Nordic Legal’s Vision for the Finnish Gambling Market
-
Asia4 days ago
SA Gaming is thrilled to announce the launch of Fish Prawn Crab
-
Interviews5 days ago
Pay and play your way
-
Asia5 days ago
Grand Korea Leisure Partners with Robotis