Crown\u2019s anti-money laundering manager Nick Stokes has said he’s in favour of phasing out cash at Crown’s casinos.<\/p>\n\n\n\n\n\n\n\n
Australia.- The proposal to introduce cashless gaming at Crown casinos<\/a> has the support of Nick Stokes<\/strong>, Crown\u2019s anti-money laundering manager.<\/p>\n\n\n\n According to the Financial Review newspaper, Stokes said there was no reason why a\u00a0cashless card<\/strong> could not be introduced to help prevent financial crime at Crown’s casinos.<\/strong><\/p>\n\n\n\n Stokes stated: “I think from an anti-money laundering perspective it would help us considerably. Being able to track all transactions above a certain threshold<\/strong>.<\/p>\n\n\n\n “I think [up to $2,000 on the card] would be reasonable … that would track play…\u00a0at the moment we\u2019re not capturing all play<\/strong>: it depends on whether someone\u2019s playing card or uncarded.”<\/p>\n\n\n\n Regulators in New South Wales called on Crown to introduce cashless gaming as one of the measures it proposed after its inquiry into the operator.<\/p>\n\n\n\n Victoria\u2019s Royal Commissioner,\u00a0former Federal Court judge Raymond Finkelstein<\/strong>, who is currently carrying out an inquiry into Crown said: \u201c[The cashless proposal] would probably reduce the attractiveness and effectiveness of a serious money laundering institution<\/strong>.\u201d<\/p>\n\n\n\n The\u00a0cashless proposal<\/a>\u00a0has also been supported by members of religious institutions and community service organisations, who said it could have\u00a0a considerable impact on people who are experiencing gambling harm<\/strong>.<\/p>\n\n\n\n Rev Tim Costello<\/strong>, chief advocate for the Alliance for Gambling Reform said the\u00a0cashless gambling system should be linked to verified ID<\/strong>\u00a0and to self-exclusion registers.<\/p>\n\n\n\n He also said it must include low load limits to ensure people regularly take breaks from gambling. He’s also called for a\u00a0ban on credit card gambling<\/strong>.<\/p>\n\n\n\n The Star Entertainment<\/a>, which has made a bid to buy Crown Resorts, has also agreed to\u00a0advance towards cashless gambling<\/strong>\u00a0to help tackle money laundering.<\/p>\n\n\n\n Earlier this week, Nick Stokes\u00a0<\/strong>told the Royal Commission in Victoria that Crown\u2019s former legal chief\u00a0Joshua Preston ignored his concerns about money-laundering risks<\/strong>.<\/p>\n\n\n\n Stokes also said he tried to increase the anti-money laundering team <\/strong>at Crown Resorts, which only had three staff members, but that Preston had said it wasn\u2019t necessary.<\/p>\n\n\n\n However, Stokes said things had changed<\/strong> at Crown Resorts and that he now has a team of 20 anti-money laundering staff<\/strong>.<\/p>\n\n\n\n Stokes said: \u201cI have seen that attitude change quite considerably to the point where\u00a0the business now is very proactive in taking on those first-line responsibilities<\/strong>\u00a0\u2026 we are looking to build the team further.\u201d<\/p>\n\n\n\n Crown\u2019s former legal head, Joshua Preston, stepped down<\/strong> from the company after telling the NSW Bergin inquiry<\/a> he was unaware whether junket operators were linked to organised crime.<\/p>\n\n\n\n Victoria\u2019s Royal Commission has also received several written submissions\u00a0accusing Crown Resorts of causing gambling addiction.<\/strong><\/p>\n\n\n\n Ai Nguyen<\/strong>, a gambling counsellor at the Australian Vietnamese Women\u2019s Association, said Crown Resorts\u2019 24\/7 operating hours<\/strong>, its rewards system and a weak self-exclusion programme <\/strong>failed to help people with gambling problems.<\/p>\n\n\n\n The WA Royal Commission is also examining <\/strong>the suitability of Crown Resorts<\/a> to continue holding a casino gaming licence for Crown Perth.<\/p>\n\n\n\nCrown legal chief ignored concerns about money-laundering risks<\/strong><\/h2>\n\n\n\n
WA gambling regulator under scrutiny<\/h2>\n\n\n\n