Australia financial crime watchdog slaps money laundering lawsuit on Crown Resorts
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[SYDNEY] Australia's financial crime watchdog filed a wide-ranging civil lawsuit against casino operator Crown Resorts on Tuesday, accusing it of failing to assess risks of money laundering and terrorism financing at its only two operational resorts.
The Australian Transaction Reports and Analysis Centre (AUSTRAC) said the company started by billionaire James Packer had failed to meet its obligations, making its business and the country's financial system "vulnerable to criminal exploitation".
Crown said it was reviewing AUSTRAC's statement of claim, but that it had developed a comprehensive mediation plan and overhauled its governance since allegations of poor due diligence surfaced at a regulatory inquiry in 2020. REUTERS
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