Money laundering cop AUSTRAC to face grilling under new financial crime inquiry
Charlotte Grieve, 23 June 2021
The financial intelligence watchdog and big four banks will be probed under a new parliamentary inquiry designed to measure the efficiency and adequacy of the Australia’s anti-money laundering regime.
The Senate approved a motion brought by Labor Senator Deborah O’Neill on Wednesday to launch a formal inquiry into the effectiveness of the laws, regulators and companies tasked with stamping out illicit fund flows. Continue reading “Article: Money laundering cop AUSTRAC to face grilling under new financial crime inquiry”
The Australian Transaction Reports and Analysis Centre (Austrac), a state-run financial intelligence organization, has leveled allegations against many of the major land-based casinos in the country.
SYDNEY (Reuters) – Australia’s anti-money-laundering agency on Monday widened a probe into due diligence at casinos to include the three biggest operators, ratcheting up pressure on a sector already struggling with the pandemic and heightened regulatory scrutiny.
Two South Australian MPs have called for a royal commission into the operations of the Adelaide casino similar to those underway into Crown in Victoria and Western Australia.