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Law
2 mins to read

ASIC cites ‘concern’ over provision for AML penalties

Star estimates A$150m for fines in Austrac legal action after regulatory prodding. SkyCity has yet to put a number on its liability.

ASX-listed Star Entertainment was sued by Australian financial regulator Austrac in November last year.

Tim Hunter Wed, 01 Mar 2023

An A$150 million ($160m) provision for potential money-laundering penalties was acknowledged by casino operator Star Entertainment after concerns were raised by the Australian Securities & Investments Commission, the regulator said this week.

New Zealand’s SkyCity is yet to make a similar

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Tim Hunter Wed, 01 Mar 2023
Contact the Writer: thunter@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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ASIC cites ‘concern’ over provision for AML penalties
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