The regulator is questioning compliance procedures at Crown’s Melbourne casino.
Australia.- The Australian anti-money-laundering regulator, AUSTRAC, has initiated an investigation into Crown Resorts’ compliance processes at its Melbourne casino.
AUSTRAC’s regulatory operations branch said it had identified potential non-compliance with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and the Anti-Money Laundering and Counter-Terrorism Financing Rules 2007.
The regulator said this “includes concerns in relation to ongoing customer due diligence, and adopting, maintaining and complying with an anti-money laundering/counter-terrorism financing program.”
According to AUSTRAC, its concerns began after a compliance assessment in September 2019, which raised questions on Crown Melbourne’s management of “customers identified as high-risk and politically exposed persons.”
AUSTRAC said the operators was fully cooperating with its investigation.
Crown faced multiple questions over its compliance processes at the inquiry conducted by the NSW Independent Liquor & Gaming Authority (ILGA). The company expects to address such issues at its shareholders’ meeting this week.