In Australia, the problem of money laundering in casinos is still acute. At the moment, some of the country’s structures have begun their investigation on this topic. Portal OnlineCasinoAussie.com will talk about this situation in more detail.
It is known that about five casinos are under investigation, that is, law enforcement agencies are carefully investigating the case of money laundering in institutions. Casino owners must provide complete information to investigators.
A key player in the investigation is the regulator, which is involved in the fight against money laundering in Australia. The same structure keeps track of Online casinos AU.
Note that until recently, an institution with the flashy name “Crown” Resorts has already been involved in a similar case. For example, the regulator accused the company of breaking some rules. In particular, this concerns institutions in Melbourne and Perth. Currently, these objects are under close attention.
The situation in AU regarding gambling establishments in Sydney
According to the latest data, the organization has not been able to open establishments in Sydney due to the investigation launched against the company. The cost of the object is estimated at 1.7 billion dollars. Law enforcement authorities insisted that the casino cannot have a gambling license in this region. A little later, the supervisory authorities said that this company helped to launder funds in their institutions, putting employees at risk. Also, the management of the company maintained business relations with criminals in other localities of the country.
After that, experts from the supervisory structure recommended the company review the management system and dismiss some of the directors. The company has been accused of many years of money laundering. It turns out that the management of the company created favorable conditions for large players from China so that they could freely commit criminal acts.
Under investigation is also a company with the no less striking name “Star”, which has the only casino in Sydney. Law enforcement authorities accuse the institution of violating some laws that are directly related to the clients.
Implications from the money laundering investigation
This investigation could negatively impact the $7 billion bid for Crown Resorts. That is, the situation will negatively affect the takeover process. Now the company’s management will have to deal with the accusations of money laundering in the casino.
The regulator is also investigating a case related to the SkyCityorganization. The control center is located in Australia, although the main activity takes place on the territory of New Zealand. The company has been accused of poor customer management.
Representatives of the National Bank of Australia said that the investigation will allow to calculate and identify clients by checking all biographical data.
The Australian Transaction Reporting and Analysis Center was involved in this investigation. It is this structure that is involved in preventing the use of banking institutions and organizations by fraudsters to finance illegal activities.
Now this investigation has brought together several important forces – the regulator, law enforcement agencies. These structures are engaged in eliminating the risks of money laundering in the casino.
Recall that recently in Australia there have been a large number of fines for illegal money laundering in the country.