The Australian anti-money laundering regulator is to closely follow the activities of casino and poker machine owners
Australia.- The Australian anti-money-laundering regulator, AUSTRAC, is said to be sharpening its focus on the gambling industry, according to local press.
The news should not come as a shock to the industry. Last year, AUSTRAC Chief Executive, Nicole Rose, warned the financial intelligence agency would examine potential “gaps” in regulations that dictated what casinos must know about their gaming clients as part of a probe into the risks of casino junkets.
Casino operators such as Crown Resorts and Star Entertainment, and big poker machine owners including Woolworths, might find themselves under heightened scrutiny as a result.
AUSTRAC is taking action after explosive allegations against Crown, accused of dealing with junkets with links to organized crime, money laundering through its casinos and working with immigration to fast track visas for VIPs. The allegations were made following an investigative report by The Age, 60 Minutes and The Sydney Morning Herald.
Following the allegations there will be a public inquiry later this month from the NSW Independent Liquor and Gaming Authority into Crown’s suitability to hold a casino license in Sydney, along with the suitability of its 9.9 percent shareholder, Melco Resorts.