The Chief Executive Officer of the Australian Transaction Reports and Analysis Centre (AUSTRAC) brought these proceeding against Crown Melbourne Limited (Crown Melbourne) and Burswood Nominees Ltd as trustee for the Burswood Property Trust trading as Crown Perth (Crown Perth) (together, Crown). AUSTRAC sought declarations that Crown contravened provisions of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) (Act) for providing gaming and financial services to high-risk customers without compliant programmes to manage risk of money laundering and financing of terrorism and an order that Crown pay a pecuniary penalty to the Commonwealth.
Crown admitted that it has contravened ss 81(1) and 36(1) of the Act. The parties submitted that “a penalty of $450 million is appropriate” in the light of the nature and seriousness of Crown’s contraventions and to deter future contraventions of the Act. The penalty is payable in three instalments over two years. The Court determined that the agreed penalty was appropriate.
Michael Hodge KC (leading C Gleeson) appeared for the applicant, instructed by Australian Government Solicitor.
The judgment is published here.
See here for AUSTRAC’s media statement ‘AUSTRAC and Crown agree to proposed $450 million penalty’.