Tag Archives: austrac
- Tabcorp hit with $35M fine in money laundering probe
March 20, 2017
Australian betting operator Tabcorp has been officially ordered to pay $35 million (A$45 million) for breaching anti-money laundering and counter-terrorism financing laws. Several weeks ago, the Sydney-based company agreed to settle with the Australian Transaction Reports and Analysis Centre (AUSTRAC), after it found that Tabcorp failed to comply with the...
- Tatts profit dips; Tabcorp $45m money laundering settlement
February 16, 2017
Australian betting and lottery operator Tatts Group saw its fiscal H1 profit drop by double-digits due to a dearth of large lottery jackpots and the cost of staying relevant in the hyper-competitive Aussie wagering market. Figures released Thursday show Tatts’ revenue fell 7.2% to A$1.42b (US $1.1b) in the six...
- Tabcorp profit cut in half by AML probe legal fees, Sun Bets launch
August 4, 2016
Australian betting operator Tabcorp’s profit fell by nearly half in its most recent fiscal year due to legal troubles and the launch of its UK-facing online betting site. In the 12 months ending June 30, Tabcorp eked out a 1.5% revenue gain to A$2.19b (US $1.67b), while earnings posted a...
- Australian money laundering watchdog expands lawsuit against Tabcorp
April 20, 2016
Australian wagering operator Tabcorp is facing increased scrutiny over alleged violations of non-compliance with the country’s anti-money laundering (AML) laws. The Australian Transaction Reports and Analysis Center (AUSTRAC) announced a federal court civil lawsuit against Tabcorp last July, accusing the operator of allowing punters to illegally wager on credit, failing...