Austrac adds further money laundering claims against Tabcorp
News on 20 Apr 2016
News on 20 Apr 2016
The Australian Transaction Reports and Analysis Centre has added to its civil proceeding claims currently filed in the Federal Court of Australia against Tabcorp’s NSW and Victorian wagering businesses.
Our readers will recall that in July last year AUSTRAC filed papers against three Tabcorp group companies, accusing them of “extensive, significant and systemic non-compliance with Australia’s anti-money laundering and counter-terrorism financing legislation.”
The application and statement of claim initiated civil penalty proceedings against Tab Limited, Tabcorp Holdings Limited and Tabcorp Wagering (Vic) Pty Limited.
In a company announcement Wednesday, Tabcorp advised that AUSTRAC has been granted leave to file an amended Statement of Claim, containing further alleged contraventions under Tabcorp’s former AML/CTF Program, which are of a similar nature to those already in issue in the proceedings.
Tabcorp adised that it will file its response in relation to the amended Statement of Claim in accordance with the Court timetable.
The Court hearing is now scheduled to start on 6 June 2017.
The Tabcorp statement notes that in 2015 the group adopted a new AML/CTF Program, which included substantial investment in enhanced capability, processes, systems and controls that underpin this new program.
