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Tabcorp Under AUSTRAC Investigation Amid Serious Anti-Money Laundering Compliance Concerns
Australia’s financial intelligence regulator, the Australian Transaction Reports and Analysis Centre, has launched a formal enforcement investigation into wagering giant Tabcorp following the discovery of significant anti-money laundering compliance concerns. The investigation marks another major escalation in the regulatory crackdown on Australia’s gambling industry, where authorities have intensified scrutiny of operators accused of failing to prevent the movement of illi
1 day ago7 min read
AUSTRAC Warns Wealth Management Sector After Widespread Suspicious Matter Reporting Failures Expose Serious AML Risks
Regulators have uncovered a major compliance breakdown within Australia’s wealth management sector after finding that ninety-eight percent of businesses failed to submit any suspicious matter reports during the previous calendar year, a gap that authorities believe may be allowing serious financial crimes, including money laundering and tax evasion, to go undetected across the national financial system. The findings have raised alarm within the Australian Transaction Reports
Apr 206 min read
AUSTRAC Chief Warns Legal Profession of Expanding AML Obligations Under Tranche 2 Reforms
Australian Transaction Reports and Analysis Centre Chief Executive Brendan Thomas delivered a strong message to the legal community during the Law Society of New South Wales 2026 Annual Conference in a keynote speech titled "How Money Laundering Actually Works, Why It Causes Real Harm, and Why the Legal Profession Now Has a Formal Role in Preventing It". In his remarks, Thomas outlined the significant regulatory expansion taking place under the government’s Tranche 2 reforms
Mar 167 min read
AUSTRAC Orders External AML/CTF Audit of Airwallex Over Compliance Concerns
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has mandated an external audit of global payments platform Airwallex following concerns over serious non-compliance with financial crime regulations. AUSTRAC Chief Executive Officer Brendan Thomas announced the regulatory action on January 22, 2026, citing potential failures in the company’s management of anti-money laundering and counter-terrorism financing (AML/CTF) obligations. The audit, conducted under sect
Jan 263 min read
Bendigo and Adelaide Bank Hit with AUD 50 Million AUSTRAC Capital Penalty Over Major AML Control Failures
Bendigo and Adelaide Bank has been handed a AUD 50 million capital add-on by Australian regulators after serious deficiencies were uncovered in its financial crime and anti-money laundering controls. The penalty, imposed jointly by the Australian Prudential Regulation Authority (APRA) and the Australian Transaction Reports and Analysis Centre (AUSTRAC), follows the discovery of long-standing weaknesses that left the regional lender exposed to illicit financial activity for
Dec 22, 20254 min read
AUSTRAC Refuses Registration Renewal for Raiyyan Exchange Over AML Failures
Australia’s financial intelligence regulator, the Australian Transaction Reports and Analysis Centre (AUSTRAC), has refused to renew the registration of independent remitter Yellow Sands Trading Pty Ltd, which operated under the business name Raiyyan Exchange, effectively barring the company from providing money transfer services anywhere in Australia with immediate effect. AUSTRAC’s decision followed the identification of serious and systemic deficiencies in the company’s
Dec 17, 20254 min read
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