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AML, Australia, Financial Crime

NEWS: Crown and AUSTRAC reach agreement on $450M penalty

By Alisha Houlihan for AMLi

The Australian Transaction Reports and Analysis Centre (AUSTRAC), Crown Melbourne and Crown Perth have jointly filed an AUD$450M (€274M) penalty application with the Federal Court of Australia, over breaches of the AML and CTF Act 2006.

The parties’ proposed settlement will be discussed at a court hearing scheduled for 10-11 July 2023. 

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