- Crown Resorts, Star Entertainment, and SkyCity Entertainment Group have received notice of allegations relating to serious non-compliance with the Australian Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the Anti-Money Laundering and Counter-Terrorism Financing Rules.
- The allegations involve Crown Perth’s potential breach of regulations and a practice at Crown Melbourne that contravened the Victorian Casino Control Act 1991.
- Austrac has initiated a formal enforcement investigation into the compliance of Crown Perth, while investigations at Crown Melbourne are ongoing.
- Star Sydney is also under investigation for potential non-compliance related to customer due diligence and maintaining an AML/CTF program.
- SkyCity Adelaide is facing allegations of potential serious non-compliance with ongoing customer due diligence, adopting and maintaining an AML/CTF Program, and compliance with the program.
- All three casino operators have stated their commitment to fully cooperate with Austrac during the investigations.
- National Bank of Australia (NAB) has been contacted by Austrac regarding potential breaches of the AML/CTF Act and AML/CTF Rules, specifically concerning customer identification procedures and ongoing customer due diligence.
- Austrac’s enforcement team is carrying out a formal investigation into NAB’s compliance.
- NAB has invested significant resources to improve its financial crime and fraud controls and is dedicated to minimizing risk and improving operational performance.
- NAB emphasizes the importance of monitoring and reporting suspicious activity to ensure the safety of Australia’s financial system and its customers.
Austrac accuses Australian casinos of money-laundering activities
Henri Welsh is a seasoned writer with a deep passion for the world of gambling and online gaming. With over a decade of experience in the industry, Henri has cultivated an extensive knowledge of casinos, sports betting, poker, and the rapidly evolving landscape of online gambling. His writing is marked by a keen analytical eye and a talent for breaking down complex topics into engaging, accessible content. Henri's articles provide readers with insightful strategies, industry trends, and in-depth reviews, helping both novices and seasoned players make informed decisions.
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