Australia Expands Anti-Money Laundering Investigation to High-Profile Casinos

The government has broadened its investigation of Crown Resorts to include other prominent players in the gaming industry. Australia’s anti-money laundering agency has broadened its investigation of the country’s gaming industry to that the three biggest operators are causing chaos in the casino industry through regulatory review. There is some new sites to discover on Zamsino with full details of the probe housings.

A USTA survey was launched on two leisure groups: Crown Resorts, SkyCity Leisure Group and Star Leisure Group. The investigation has been active for several months and is carrying out underground checks of various breaches.

This then means that owners of gambling establishments in Australia’s five largest cities could be the subject of police investigations.

Australia Expands Anti-Money Laundering Investigation to High-Profile Casinos
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Crown was under intense stress after an investigation found he was unfit to obtain a license to operate a $ 2.2 billion Sydney online casino, which triggered commissions of royalties from two different states, attracting class actions. All this is in addition to the AUSTRAC probes deployed in the metropolis of Perth.

The head of Australia’s anti-money laundering watchdog has warned that the online gambling industry is vulnerable to legal abuse because of his services.

Rose noted that the investigation, which focused on Crown online casino, showed the seriousness of the regulators’ issues and that various considerations were in place.

Australia’s financial watchdog AUSTRAC has confirmed investigations into several banks, including a major lender in the country.

Anticipated fines

All three firms mentioned that AUSTRAC was involved in the administration of their clients and that they would cooperate with the authorities in any way necessary.

The Australian Competition and Consumer Commission crackdown on illegal gambling could threaten a mega-deal between Crown Resorts and Star Entertainment worth $ 9 billion.

Nathan Bell, a portfolio supervisor at Clever Investor, said that if the problem is scientific and ongoing, it could be an objection by the regulator.

If Star has reasonable requirements, then regulators would be able to eliminate bad apples. This would then allow Star to get his hands on Crown and take over the proposition.

According to analyst Angus Hewitt, the expansion of the gambling industry investigation was not good news for struggling casino operators.

Crown and Star shares were down 1.5% and 3%, respectively, and due to the public holiday, SkyCity’s New Zealand failed to trade.

Crown said it was authorized to promote gaming tokens worth over $ 160 million to people who paid with debit or credit cards from 2012 to 2016, which sparked another detailed investigation.

AUSTRAC said it is investigating whether Star Entertainment Group and SkyCity Entertainment Group have broken the rules. Crown had previously been analyzed on its potential violations at the Melbourne casino, owned by the company. For now, the Perth Casino will also be under investigation.


The Australian Financial Services Authority has broadened its survey of the country’s largest gambling operators to include the three biggest names.

Several of Australia’s largest gaming companies are under investigation for possible background check violations. Some of the casinos formally investigated are AUSTRAC, Crown Resorts, New Zealand SkyCity and Star Group. You can try it for free here to see all the details of the analysis.

Australia’s gambling watchdog has extended its investigation to Crown casinos to include Perth Casino. After a thorough investigation, the company was unable to open the Sydney casino that it deemed unfit to hold a state gambling license.

An investigation revealed that Crown Melbourne had laundered money and facilitated business dealings with criminal groups in various cities across Australia. The company’s management survey recommended that a new set of directors replace the board.

Star Entertainment Group is under investigation for alleged violations of due diligence laws. Investigations into the money laundering allegations would have compromised the proposed acquisition of Crown Resorts.

The Australian Competition and Consumer Commission has opened an investigation into the company’s operations in Adelaide due to deficiencies in customer management.

The three companies said they would cooperate fully with AUSTRAC, investigating their handling of high-risk and politically exposed people.

Reviews coming soon

Investigations into Crown Resorts are still ongoing, including the other two newly added companies. AUSTRAC formally reviews the operations of companies performing due diligence on any breach. Law enforcement investigations are also underway against the companies for any violation, and if any violation occurs, their operating licenses will be restricted and subject to various fines.

Pressure on Crown Resorts has intensified in recent months as it turns out they have broken operating regulations. The company was found to be unfit for its operating license in Sydney. He was unable to open the site for games until the end of last year.

In addition, the company has been the subject of class actions in other states. This week, AUSTRAC extended its review to Perth over a similar case.

The Star has been investigated for possible violations of anti-money laundering and consumer protection laws. The company must provide all the information required by officials to assist in the pursuit of the quest.

In an interview with the Australian Broadcasting Corporation, Rose noted that the gaming industry in the country is at risk of crime exploitation due to the availability of specific products and services. An enforcement investigation is currently underway at Crown Perth Casino. This shows the seriousness of the group’s concerns vis-à-vis the video game industry.

Anti-money laundering and terrorism agency AUSTRAC has launched investigations against the three gambling companies. Agencies are believed to be investigating companies so as not to manage the risks associated with specific clients.

In conclusion, the agreement between Crown and Star could be affected

The investigations are expected to focus on the operations of Crown Resorts and Star Entertainment. In ongoing investigations, opposition to a takeover may be raised.

Nathan Bell, director of Intelligent Investor, said if Star’s investigation shows the company has good standards, the takeover proposal should be considered.

Other analysts believe the investigations will result in fines and operators will most likely be affected by the findings.

Trade between Crown Resorts and Star Entertainment is on the decline after the announcement of the proposed merger between the two companies.

The public will be kept informed of any changes or decisions made by AUSTRAC as they occur.

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