The Australian Transaction Reports and Analysis Centre announced that the Federal Court of Australia imposed civil penalties of $50,000 on Castra Licensee Pty Ltd and $45,000 on Princeton Securities (NSW) Pty Ltd after the firms failed to pay infringement notices issued in September 2024 for alleged breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The notices related to failures to meet mandatory reporting obligations under the AML/CTF Act. Neither firm paid the original infringement amount of $18,780, prompting AUSTRAC to commence civil penalty proceedings. In separate judgments on 26 May, Justice Lee also ordered Castra to pay $15,000 in costs and Princeton to pay $5,000 in costs. Both firms admitted liability, and the Court took account of their respective levels of cooperation, including joint submissions by Princeton and AUSTRAC on the appropriate penalty.
Australian Transaction Reports and Analysis Centre (AUSTRAC)2026-05-27
Australian Transaction Reports and Analysis Centre secures Federal Court penalties of $50,000 and $45,000 over unpaid AML/CTF infringement notices
The Australian Transaction Reports and Analysis Centre announced that the Federal Court imposed civil penalties of AUD 50,000 on Castra Licensee Pty Ltd and AUD 45,000 on Princeton Securities (NSW) Pty Ltd for failing to pay infringement notices for alleged breaches of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The Court also ordered Castra to pay AUD 15,000 in costs and Princeton AUD 5,000, noting both firms’ admissions of liability and cooperation.