Monday 27. June, 2016

Tabcorp Files Defense Against AUSTRAC Charges

Australian gambling operator, Tabcorp, has filed its defense in response to an amended civil suit brought against it by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Tabcorp was accused of an additional 61 money laundering breaches in the amended suit and last week it filed a defense against the charges by the anti-money laundering compliance watchdog in order to prove its innocence.

Chief executive of AUSTRAC, Paul Jevtovic, stated that after a “long and comprehensive assessment” the watchdog found that Tabcorp had failed to improve its standards or compliance in taking sufficient precaution against money laundering and terrorism financing.

Australian law requires financial services companies and gambling operators to proactively monitor customer accounts to ensure they are not being used for the purposes of organised crime or terrorism funding.

AUSTRAC had accused Tabcorp of contravening its reporting obligations a total of 236 times, leading to potential money laundering crimes. According to AUSTRAC these breaches facilitated large scale money laundering by crime syndicates and provided an opportunity to compromise the integrity of the financial system.

Tabcorp presented evidence to contest many of the accusations with the exception of allegations that relate to its NSW business failing to be enrolled as a reporting entity in the required timeframe; its NSW and Victorian businesses not lodging specific suspicious matter reports; failings in Tabcorp’s previous AML/CTF program and its NSW business not conducting sufficient verification of a specific customer in one of its retail venues.

Tabcorp has announced its intention to file a response relating to the total amended statement of claims that AUSTRAC lodged. The national Justice set a hearing date which is currently scheduled to commence in June 2017.

The maximum penalty for Tabcorp could be as high as $17 million.

TOP CASINOS
$200 BONUS

Start your Australian casino adventure with a $200 bonus and 5000 seeds!


130 FREE SPINS

All new Australian players get 130 free spins and bonuses up to €1000 on the first three deposits.


30 FREE SPINS

Get 30 free spins and 4 welcome bonuses to a total value of $1400 as a new Australian customer!


35 FREE SPINS

New Australian players get 35 free spins on Spiñata Grande and a 100% welcome bonus up to $200!


400% BONUS

As a new Australian customer, deposit €100 and you will get €500 to play for!


€10 EXCLUSIVE BONUS

Get a €10 exclusive bonus on your first depost and get 10% top-up on your winnings or 10% cashback on your losses the first week.


200 FREE SPINS

Get 50% of the deposit you make in free spins! Deposit $400 in order to get 200 free spins! Also, 100% bonus on your first deposit!


$500 BONUS

Join All Australian Casino and get a 100% bonus up to $500 as a new Australian customer!


50 FREE SPINS

As a new Australian player, you get 50 free spins and a 200% welcome bonus!


180 FREE SPINS

Get up to $1000 in bonus on your first four deposits. Also, 180 free spins to all new Australian players!


100 FREE SPINS

Get 100 free spins on Starburst and a first deposit bonus worth up to $400 as a new Australian player!


PokiesPedia was last updated:
March 30, 2017

Receive 100 Free Spins Now!

Receive 100 Free Spins Now!

Join our mailing list to receive 100 free spins instantly and the best bonus offers for Australians!

You have Successfully Subscribed!