Austrac: Record $45 million civil penalty ordered against Tabcorp


The highest ever civil penalty in corporate Australian history was today ordered against Tabcorp by the Federal Court of Australia.

AUSTRAC CEO Paul Jevtovic said that the record $45 million civil penalty serves as a stark reminder to all reporting entities that there are serious consequences for non-compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

“Today the court found that Tabcorp had contravened the AML/CTF Act on 108 occasions over a period of more than five years,” said Mr Jevtovic.