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Tuesday, September 21, 2021

Australian Casino Operator Faces Counter-Terrorism and Anti-Money Laundering Probe

Crown Resorts, an Australian casino operator, is being investigated for potential breaches of counter-terrorism financing laws and anti-money laundering.

Crown Resorts, an Australian casino operator, is being investigated for potential breaches of counter-terrorism financing laws and anti-money laundering.

According to the Australian Stock Exchange, Australia’s financial crime regulator has already contacted the company.

Crown Resorts currently have casinos in Perth and Melbourne, and is building one in Sydney.

Crown would face millions of dollars in fines and threats to its casino licenses, if the company is proven to be guilty of these breaches. 

The company has allegedly brought in high-roller gamblers from China and it has business ties to tour operators with suspected crime links in Asia.

Australian Transaction Reports and Analysis Centre (Austrac), the regular, is yet to comment on Monday’s announcement regarding those allegations.

Crown said that they would fully cooperate with the investigation. 

James Packer, Crown’s former chief executive, was among those who gave a testimony earlier this month. 

The investigation has been exposed less than a month after another Austrac probe, which led to the Westpac bank to pay one of the largest civil penalties in Australian corporate history as it made 23 million law breaches.

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