AUSTRAC to expand investigation to other entities within The Star Group
Through an ASX announcement, The Star Entertainment Group has revealed AUSTRAC has expanded the scope of its investigation to other entities within The Star group.
Australia.- Star Entertainment Group has reported AUSTRAC (Australian Transaction Reports and Analysis Centre) has advised that it has expanded the scope of its investigation to other entities within The Star Group.
The announcement is related to an investigation AUSTRAC started last June when the regulator stated it had identified “serious non-compliance regarding ongoing customer due diligence” at Star Sydney.
Through its latest statement, Star Entertainment said: “AUSTRAC has advised that it has not made a decision regarding the appropriate regulatory response that it may apply to The Star, including whether or not enforcement action will be taken.
“AUSTRAC has advised that it will request information and documents from The Star as part of its investigation.”
The company said it takes its anti-money laundering obligations very seriously and “will fully co-operate with AUSTRAC concerning its requests for information and documents and the investigation.”
Last October, the casino operator was implicated in suspected money laundering, organised crime and fraud by a joint report by three news outlets (The Age, The Sydney Morning Herald and 60 Minutes).
They said that between 2014 and 2021 the firm wooed high-rolling gamblers who were allegedly linked to criminal or foreign-influenced activities.
In a press release, the company said the assertions were misleading and that it “will take the appropriate steps to address all allegations with relevant state and federal regulators and authorities”.
