Kroll Australia will supervise compliance with AML\/CTF regulations.<\/p>\n\n\n\n\n\n\n\n
Australia.-\u00a0SkyCity Entertainment Group<\/strong>\u00a0has announced that Dini Soulio, the Liquor and Gambling Commissioner for South Australia, has approved\u00a0the appointment of Kroll Australia<\/strong>\u00a0as an independent monitor for SkyCity Adelaide<\/a>. <\/p>\n\n\n\n It was ordered to appoint an independent monitor in May in order to supervise the implementation of programmes aimed at ensuring compliance with AML\/CTF regulations and gambling harm minimisation obligations. Kroll already holds a comparable role as the independent monitor for Crown Sydney. <\/p>\n\n\n\n Soulio said: \u201cKroll\u2019s staff include people who have worked for the national regulator, AUSTRAC, are experts in fraud and risk management and have extensive experience ensuring casinos are fulfilling their regulatory requirements.<\/p>\n\n\n\n \u201cKroll is an experienced consultancy firm with staff who have a tremendous amount of experience in this field both nationally and internationally.\u201d<\/p>\n\n\n\n SkyCity Entertainment Group has allocated AU$45m (US$29.2m) in provisions<\/a> intended to cover potential civil penalties and legal expenses arising from the scrutiny of regulatory bodies, including AUSTRAC.\u00a0<\/p>\n\n\n\n Meanwhile,\u00a0Brian Martin AO KC\u2019s independent review<\/a>\u00a0into the suitability of SkyCity Adelaide\u00a0remains on hold<\/a>\u00a0pending the resolution of civil proceedings initiated by the Australian Transaction Reports and Analysis Centre in the Federal Court of Australia on December 7, 2022.<\/p>\n","protected":false},"excerpt":{"rendered":" Kroll Australia will supervise compliance with AML\/CTF regulations.<\/p>\n","protected":false},"author":176,"featured_media":24747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"SkyCity Entertainment Group's SkyCity Adelaide has appointed Kroll Australia as an independent monitor, approved by the South Australian Liquor and Gambling Commissioner, to oversee AML\/CTF compliance and gambling harm minimisation programs. This appointment follows a May order and comes as SkyCity has provisioned AU$45m for potential regulatory penalties and legal costs. A broader suitability review remains on hold pending ongoing AUSTRAC civil proceedings.","focusai_entities":"SkyCity Entertainment Group, Kroll Australia, SkyCity Adelaide, Dini Soulio, AUSTRAC, Crown Sydney, Brian Martin AO KC, Australian Transaction Reports and Analysis Centre","focusai_location":"Australia, South Australia, Adelaide, Sydney","focusai_target_profile":"ceo_executive (0.95), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), payments_fraud_aml (1.0), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Monitor's Scope Impact","query":"What specific enhancements to SkyCity Adelaide's AML\/CTF and harm minimisation governance frameworks are anticipated under Kroll Australia's independent monitoring mandate, and how might these influence future regulatory compliance benchmarks for other Australian licensees?"},{"label":"Financial Provision Adequacy","query":"Given the AU$45m provision for civil penalties and legal expenses, what is the market's assessment of its adequacy in covering potential liabilities from AUSTRAC's ongoing civil proceedings, and what are the implications for SkyCity Entertainment Group's capital allocation strategy?"}],"footnotes":""},"categories":[16336,157,158],"tags":[1137],"class_list":["post-777008751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","category-slider-home","tag-skycity"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777008751"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008751\/revisions"}],"predecessor-version":[{"id":777008792,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008751\/revisions\/777008792"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/24747"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}