Biggest fines paid to regulators by ASX listed companies

May 19, 2024

This list tracks ASX listed companies which have been hit with fines by regulators exceeding $10 million.

Westpac, $1.3 billion: settled with Austrac in September 2023 over 23 million suspect transactions which reportedly assisted with child exploitation payments.

CBA, $700 million: settled with Austrac in June 2018 after 53,750 breaches of money laundering rules.

Crown Resorts, $450 million: After James Packer had sold to Blackstone the Federal Court slapped the new owners with a $450 million penalty in July 2023 for the money laundering sins of the previous owner.

Star Entertainment, $200 million: was fined $100 million by each of the NSW and Queensland gambling regulators with a Federal AUSTRAC fine to come.

Qantas, $100 million: settled with the ACCC in May 2024 over the so-called ghost flights issue during COVID, agreeing to pay a civil penalty of $100 million with an additional $20m in compensation to customers.

Sky City, $67 million: the Auckland-based owner of the Adelaide Casino agreed to pay Austrac $67 million in May 2024 to settle longstanding money laundering breaches.

Tabcorp, $45 million: the first of the big Austrac money laundering fines against the Australian gambling industry was paid by Tabcorp in March 2017.

Rio Tinto, $US28: agreed to pay the $US15m fine to the SEC in September 2023 over impairments to its Mozambique coal business.

AMP, $24 million: the fine was imposed by the Federal Court in May 2023 for charging life insurance fees on around 2000 deceased estates.

NAB, $18.5 million: ASIC persuaded the Federal Court to impose the $18.5m fine after NAB contravened its obligations as an Australian financial services licence holder to act efficiently, honestly and fairly by failing to have procedures and systems in place to provide timely and effective fee disclosure statements.

ANZ, $15 million: agreed to the $15m civil penalty with ASIC in September 2023 over cash advance fees related to credit cards.

AMP, $24 million: the fine was imposed by the Federal Court in September 2022 for charging fees on 1,452 superannuation members when no services was provided.

Macquarie Group, $10 million: the Federal Court imposed the $10m civil penalty in April 2024 after Macquarie failed to detect third parties deducting inappropriate fees using its bulk processing facilities.