ABC News & Headlines – Australian Broadcasting Corporation14 hours ago·2 min read·medium

Star Casino fined $260 million for historical money laundering violations

Liana Walker, Nassim Khadem

✦AI Summary

The Star Entertainment Group has been fined $260 million by the Federal Court for repeated anti-money laundering violations. The penalty follows legal action by AUSTRAC regarding the casino's dealings with high-risk gambling junkets.

Why it matters

This significant fine highlights the regulatory crackdown on financial crimes within the gambling industry and the potential for such penalties to impact corporate solvency.

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The Star casino has been fined for breaches of anti-money laundering laws. ( AAP: Russell Freeman )

The Star Entertainment Group has been fined $260 million for repeated breaches of anti-money laundering laws.

Financial intelligence agency AUSTRAC sought a $400 million penalty, but the company argued that a fine over $100 million would force it into liquidation.

Justice Cameron Moore said he weighed the need for deterrence and the casino's financial position when deciding on the penalty.

Link copied Share Share article Australia's largest listed casino company, The Star Entertainment Group, has been fined $260 million over historical repeated money laundering violations that led to the suspension of its casino licences in NSW and Queensland.

The penalty handed down by Justice Cameron Moore in the Federal Court today came a day after shareholders gathered for the casino operator's annual meeting in Sydney.

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Headlinne story · 3 newsrooms

Federal Court Fines the Star Entertainment Group 260 Million Dollars

What every outlet reported, where they differ, and how each framed it →