All Articles

Australian authorities are investigating an alleged transnational money laundering network suspected of laundering more than A$123 million on behalf of multiple organised crime syndicates through cryptocurrency, shell companies and offshore transfers. The investigation, supported by the Australian Transaction Reports and Analysis Centre (AUSTRAC), highlights the growing role of specialist financial networks that provide money laundering services to other criminal organisation

Australia’s Federal Court has ordered casino operator The Star Entertainment Group to pay A$260 million for serious breaches of anti-money laundering and counter-terrorism financing (AML/CTF) laws, following findings that the company failed to properly manage financial-crime risks across its casino operations. The penalty was imposed on 28 October 2026 after proceedings brought by the Australian Transaction Reports and Analysis Centre (AUSTRAC), the country’s financial intell

New rules targeting athletes, celebrities and social media influencers will take effect on 1 January 2027, requiring wagering operators and their marketing partners to reassess advertising campaigns, sponsorship agreements and promotional contracts. Australia’s communications regulator has issued its first industry guidance on a forthcoming prohibition against the use of notable people in gambling advertising, providing greater clarity on how the new restrictions will be in

A coordinated mortgage fraud problem has been identified across Australia’s lending sector after financial intelligence shared through Fintel Alliance revealed recurring patterns of false and misleading information being used to obtain home loans from multiple major lenders. The investigation began when Commonwealth Bank identified irregularities in mortgage applications and shared the intelligence through Fintel Alliance, a public-private financial crime partnership bringing

KPMG has become embroiled in a major controversy as its Australian business faces allegations involving the misuse of confidential information and breaches of auditor independence rules, with a parliamentary hearing on the matter scheduled to take place later this month. The accusations are said to relate to a period that largely coincided with the tax leaks scandal involving rival firm PwC, which ultimately resulted in the consultancy being prohibited from undertaking work f

Federal regulators in Australia have launched two major supervisory initiatives targeting the country’s virtual asset industry as part of a broader effort to reinforce financial integrity and combat illicit financial activity within the digital economy. The Australian Transaction Reports and Analysis Centre, widely known as AUSTRAC, is intensifying its examination of how cryptocurrency businesses identify and manage money laundering and terrorism financing risks embedded with

Australian authorities have formally broadened the scope of the country’s anti-money laundering framework, bringing thousands of additional businesses under regulatory oversight. The Australian Transaction Reports and Analysis Centre has initiated the enrolment process for a range of professional sectors that had previously operated outside mandatory reporting requirements. This development represents the most substantial reform to Australia’s financial crime legislation in m

Oztures Trading, operating under the name Binance Australia Derivatives, has been ordered to pay a $10,000,000 penalty following a federal court ruling that exposed serious compliance shortcomings in its operations. The legal action was brought by the Australian Securities and Investments Commission (ASIC), which found that the firm had incorrectly classified hundreds of retail clients as wholesale investors, depriving them of key consumer protections and required disclosur

Professional service providers in Australia, including real estate agents, accountants, and lawyers, now face the prospect of jail sentences and substantial fines if they fail to comply with autonomous sanctions and anti-money laundering (AML) directives. The high standards of due diligence are designed to prevent the flow of illicit funds and ensure that designated individuals and entities cannot access economic resources within the Australian economy. The Department of Fore

IKEA has vowed to fight back against an Australian Taxation Office audit claiming the Swedish furniture company owes approximately A$171 million ($115 million) in unpaid taxes, saying it “strongly disagrees with its position.” The ATO believes that IKEA has shifted money offshore through disputed transfer pricing and royalty arrangements. IKEA’s Australian business is reportedly structured in a way that reduces taxable income in Australia by paying franchise fees, licence fee