Brief: AUSTRAC Says Skycity Adelaide Ordered By Court To Pay A$67 Million Penalty

Skycity Entertainment

07/06/2024 02:28

June 7 (Reuters) - AUSTRAC: 
    * SKYCITY ADELAIDE ORDERED BY COURT TO PAY A$67 MILLION
PENALTY
AFTER AUSTRAC LAUNCHED CIVIL PENALTY PROCEEDINGS FOR BREACHES
    * COURT ORDERED SKYCITY ADELAIDE TO PAY AUSTRAC’S COSTS AT
A$3
MILLION
    * COURT FOUND SKYCITY’S PROGRAMS FAILED TO MEET REQUIREMENTS
AND
DID NOT CARRY OUT APPROPRIATE ONGOING CUSTOMER DUE DILIGENCE
    * CASINO ALSO FAILED TO ESTABLISH APPROPRIATE FRAMEWORK TO
ENSURE
ADEQUATE BOARD AND SENIOR MANAGEMENT OVERSIGHT OF ITS AML/CTF
PROGRAMS

Further company coverage:  SKC.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))