Austrac Declares That It Is Impossible To Regulate The Casino

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January 13, 2022
3 minutes


At a meeting of the governments of australia, the authority for the supervision of financial crimes (austrac) reported that transaction controls for the purpose of potential money laundering is the responsibility of a casino, not a regulatory body.

Austrac executive director nicole roseted than casino operators present a serious risk of embezzlement of funds, but separate game companies need to be assessed, whether the janesheets of australia rules to combat money laundering and financing terrorism. Recognizing gaps in the regulation of the casino, which attract the high-level foreign players, ms. Rose said that "the industry has good opportunities for managing and evaluating their own risks".

"Austrac does not regulate the activities of the tour operators on the organization of dzhanketov," said ms. Rose. "Responsibility for compliance with money laundering lies in the industry. The federal court also confirmed this point of view. ".

To the fact that the regulatory body, noting the gianket, is aware of a significant risk of money laundering, the director replied that "internal regulation will not solve the problem," since foreign companies do not fall under the law.

Junckers were in the center of the investigation conducted by the independent sale of alcoholic beverages and gambling of the state of the new south wales regarding crown recourts. During the investigation, it turns out whether the giant folles the giant of gigs to maintain a gaming license for its sydney brangaro casino worth 1.6 billion dollars.

It argued that crown closed his eyes on money laundering activities held by its large suncil partner in his casino in melbourne, where hundreds of millions of dollars passed through the casino cash registered. It was widely reported that organized criminal organizations in hong kong and macau are associated with organized criminal syndicates. Crown in november canceled all transactions with tour operators by janquet.

Austrac acknowledged that government regulators are inconsistent with regard to dzhanketov. Only in queensland, the junckers are forced to receive a permit license to work in the state.

The commission for regulating gambling and alcoholic beverages of victoria has previously stated that the issues of combating money laundering are austrac, and not state bodies for gambling business. Austrac is confident that dzhanketov operators are at risk of money laundering at least since 2017.

Ms. Rose said that it would be "preferable" if all government gaming bodies have implemented licensing regimes for dzhanketov operators.

Source: edition the australian

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