Tabcorp faces new allegations from financial regulator

Tabcorp will be facing new charges after Australia’s financial intelligence agency increased its case against the wagering giant with new allegations, local media reports.

Australia’s financial intelligence agency is increasing its case against Tabcorp with new allegations against the wagering giant, local media reports.

The Australian Transaction Reports and Analysis Centre (Austrac) and Tabcorp were originally due to face Federal Court in September after claims Tabcorp had failed to inform the regulator that more than 30 TAB accounts were opened to filter fraudulent credit cards for organized crime figures.

“Tabcorp advises that today AUSTRAC has been granted leave to file an amended Statement of Claim, containing further alleged contraventions under Tabcorp’s former AML/CTF Program,” said Tabcorp in a filing to the Australian Stock Exchange on Wednesday.

“It should be noted that in 2015 Tabcorp adopted a new AML/CTF program, which included substantial investment in enhanced capability, processes, systems and controls that underpin this new program,” the wagering giant added.

That court hearing has now been pushed back until June 6, 2017.


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