Australian betting operator Tabcorp has been officially ordered to pay $35 million (A$45 million) for breaching anti-money laundering and counter-terrorism financing laws.

Several weeks ago, the Sydney-based company agreed to settle with the Australian Transaction Reports and Analysis Centre (AUSTRAC), after it found that Tabcorp failed to comply with the government’s Anti-Money laundering and Counter-Terrorism Financing Act (AML/CTF) for a total of 108 times over five years.

The Federal Court approved the settlement last week. The fine is believed to be the highest civil penalty imposed in Australian corporate history.

AUSTRAC claimed that Tabcorp “did not have an adequate program to monitor the risk for three years and failed to report to AUSTRAC suspicious matters relating to money laundering and credit card fraud on time or at all on 105 occasions,” according to an Associated Press report.