Anti-Financial Crime & Financial Crime Compliance
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Australia, Financial Crime

NEWS: AUSTRAC alleges $140M in possible dirty money gambled at Mounties

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A person gambles on a poker machine at a pub in Sydney, Australia, September 19, 2022. REUTERS/Loren Elliott/File Photo

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By PAUL O’DONOGHUE, Senior Correspondent

FINANCIAL crime watchdog AUSTRAC has alleged that Mounties Group allowed 10 high-risk customers to gamble nearly AUS$140 million ($93 million), despite red flags suggesting possible illicit finance.

The claim is part of a civil case currently before the Australian Federal Court. Mounties, which operates nine licensed clubs across Sydney and the Central Coast, is accused of systemic failures in its anti-money laundering and counter-terrorism financing (AML/CTF) controls.

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Premium

LATEST: German real estate developer arrested over alleged ‘multi-million euro’ fraud

 Premium

NEWS: Crypto worth up to €360 million seized by Ireland’s Criminal Assets Bureau in textbook fincrime ‘deny, deprive’ initiative

 Premium

INSIGHT: How UBS helped Epstein accomplice Ghislaine Maxwell buy her hideout

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