SkyCity and AUSTRAC propose A$67m penalty to Australian court
SkyCity Adelaide and AUSTRAC filed joint submissions with the Federal Court of Australia proposing a A$67m penalty over breaches of anti-money laundering and counter-terrorism financing rules. SkyCity admitted shortcomings in its AML/CTF programmes and customer due diligence; the court is due to consider the proposed settlement at a hearing on 7 June, and will determine the penalty.
The court’s decision will determine the penalty and reinforce compliance expectations for casino operators.