Economy · 6 d ago
Star Entertainment is fined 260 million Australian dollars for money-laundering breaches
Penalty
260 million Australian dollars
Justice Cameron Moore set the fine at 260 million Australian dollars, to be paid in four instalments over 19 months.
Star asked
A$100 million
AUSTRAC asked
A$400 million
Star argued for no more than 100 million, the regulator AUSTRAC sought 400 million, and the judge chose 260 million.
The court found Star broke the law more than 1,500 times between November 2016 and November 2022, failing to monitor more than 170 high-risk customers.
What we know
- Judge: Star put profit over compliance
- Star said over A$100M could mean liquidation
Not yet
- Whether Star can pay the fine
Star had warned that a fine above 100 million Australian dollars could force it into liquidation, and attention now turns to whether it can pay.
