Federal Court orders SkyCity Adelaide to pay A$67m AUSTRAC penalty
The Federal Court of Australia ordered SkyCity Adelaide to pay AUSTRAC A$67m for breaches of anti-money laundering and counter-terrorism financing requirements. The court also ordered A$3m in costs; SkyCity admitted failures involving its compliance programmes and customer due diligence, and AUSTRAC said remediation was ongoing.
The court ruling sets a substantial penalty and requires SkyCity Adelaide to address compliance failures and ongoing remediation.