Star Entertainment answers money laundering allegations

The Star Entertainment Group is being investigated in Queensland.
The Star Entertainment Group is being investigated in Queensland.

The Star Entertainment Group has issued a response denying media allegations that it failed to do enough to prevent money laundering and fraud at its resorts.

Australia.- Star Entertainment Group has responded to claims by media outlets The Sydney Morning Herald, The Age and 60 Minutes that it was involved in suspected money laundering, organised crime and fraud.

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.”

According to the media reports, between 2014 and 2021, Star wooed high-rolling gamblers who were allegedly linked to criminal or foreign-influenced activities. The media investigation claimed that reports prepared by KPMG in 2018 were kept secret and were not adequately acted on. However, Star Entertainment said the assertions were incorrect.

The company said the reports, findings and outcomes from the review were considered as it adopted an updated Anti-money Laundering and Counter-terrorism Financing (AML/CTF) Program as a priority in October 2018. Star Entertainment also said it undertook a programme of work to enhance its AML compliance framework, under its board’s oversight.

It said: “Details of the review and resulting reports were shared with the AML/CTF regulator, AUSTRAC and referred to in a statement by The Star to the Bergin Inquiry. This information was also provided to the independent reviewer conducting the subsequent review to inform the assessments undertaken in that next review in 2020 – 2021.”

The company is currently being investigated by the New South Wales Independent Liquor and Gaming Authority and the anti-money laundering agency AUSTRAC.

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GAMBLING REGULATION land-based casino The Star Entertainment Group