Crown Resorts Could Pay New $300M Fine Over AML Failures in Australia

The never-ending story of Crown Resorts and its inability to follow anti-money laundering (AML) laws in Australia continues. The casino operator is close to paying a new fine for its failures after having already paid hundreds of millions of dollars in settlements with state governments.

Crown and the Australian Transaction Reports and Analysis Centre (AUSTRAC) have reached a tentative settlement of AU$450 million (almost $300 million) related to the breaches of AML laws at its Melbourne and Perth casino. The agreement brings to a close a case involving the two that began a year ago.

The casino operator has faced punishment in New South Wales (NSW), Western Australia (WA), and Victoria, including as recently as last month. The AUSTRAC fine could be the largest single amount to date, but still needs approval from a federal court judge.

 

[GamblingBoy]

What is the problem with the Crown Resorts?. Why is it involving itself in financial mess?. Why must it violated established money laundering act when it knew the repercussion?. For how long would it continuing paying fines without having its capital base affected?. Capital Resorts should be treading softly o.

 

[Ejyndayo53]

The new management of Crown Resorts under the Blackstone should endeavor to pay this $300m fined over Anti money laundering in Australia. Paying this would serve as a lesson and prevent the firm from committing similar offence in future. The new management should endeavir to manage its activities very well.