Crown Resorts will pay a total of AU$450 million (US$293 million) in penalties for historical contraventions of Australia’s anti-money laundering laws under an agreement reached with AML watchdog AUSTRAC.
Under the agreement, which resolved civil penalty proceedings brought against it, Crown Melbourne and Crown Perth will – pending Federal Court approval – pay a combined AU$450 million for “admitted historical contraventions” of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The two parties have also filed a Statement of Agreed Facts and Admissions with the Federal Court, which will consider the settlement at a hearing on 10 and 11 July.
