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Tabcorp Faces Money Laundering Charges in Australia

Australian betting firm Tabcorp is in hot water with Australian authorities after it was revealed that the company is facing charges of 61 breaches of money laundering charges.

The revelation came from the Sydney Morning Herald, which revealed that the Australian Transaction Reports and Analysis Centre filed the charges against the betting group, which could see them facing $18 million (AUD) should they be found guilty. The first set of charges came last summer, and he new charges were brought on as a result of a further investigation by the group.

Tabcorp is reported to have circumvented money laundering regulations 236 times, which could have caused major damage if criminals were attempting to hide the sources of dirty money.

Commenting on the matter Austrac CEO Paul Jevtovic said, "This ongoing investigation into Tabcorp's extensive, significant and systematic non-compliance with Australia's money laundering and counter-terrorism financing legislation has resulted in these additional allegations."

The charges are the latest legal headache for Tabcorp, which is being investigated for making a $200,000 AUD payment to Cambodia's prime minister for political lobbying, which may run afoul of bribery laws.

Casino Listings will update this story as more developments arise.

1 reply • Last post


Fortune HunterFortune Hunter
sharpe's picture
Location: Sofia, Bulgaria
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9 May 2016 - 11:42pm

If they found Tabcorp guilty it could mean even the end of their business but after so many money laundering charges it's quite possible and I think it would be a deserved fate for them.

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