{"id":23753,"date":"2022-10-17T13:51:18","date_gmt":"2022-10-17T17:51:18","guid":{"rendered":"http:\/\/worldjusticenews.com\/news\/?p=23753"},"modified":"2022-10-17T13:51:18","modified_gmt":"2022-10-17T17:51:18","slug":"star-casino-record-fine-for-australian-operator-over-money-laundering","status":"publish","type":"post","link":"https:\/\/worldjusticenews.com\/news\/2022\/10\/17\/star-casino-record-fine-for-australian-operator-over-money-laundering\/","title":{"rendered":"Star casino: Record fine for Australian operator over money laundering"},"content":{"rendered":"
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Australian gambling giant Star Entertainment Group has been fined A$100m ($62m, \u00a355m) for failing to stop money laundering at its Sydney casino.<\/b><\/p>\n<\/div>\n<\/div>\n

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The group’s licence to operate the casino has also been suspended.<\/p>\n<\/div>\n<\/div>\n

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The Star has promised to “do everything in [its] power” to regain its licence and the community’s trust.<\/p>\n<\/div>\n<\/div>\n

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Casino operators in Australia have been under great pressure to reform their gambling operations following reports of widespread criminal activity.<\/p>\n<\/div>\n<\/div>\n

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The record penalties were announced in response to a damning inquiry in New South Wales (NSW) earlier this year.<\/p>\n<\/div>\n<\/div>\n

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It heard the Star had allowed money laundering and organised crime to infiltrate their Sydney casino, taking a “cavalier” approach to governance and at times making deliberate moves to cover its tracks.<\/p>\n<\/div>\n<\/div>\n

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At the time, the regulatory chief Philip Crawford said: “The institutional arrogance of this company has been breathtaking.”<\/p>\n<\/div>\n<\/div>\n

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The fine announced on Monday is the maximum allowed, but the NSW Independent Casino Commission stopped short of removing Star’s licence altogether, to protect thousands of jobs.<\/p>\n<\/div>\n<\/div>\n

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Under the conditions of the suspension, the casino will still operate under a manager appointed by the regulator.<\/p>\n<\/div>\n<\/div>\n

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From Friday the Star will not be able to run the casino on its own until it can “earn” its licence back, Mr Crawford said.<\/p>\n<\/div>\n<\/div>\n

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A spokesman for The Star said the company is committed “to charting a path back to suitability”.<\/p>\n<\/div>\n<\/div>\n

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It has previously promised to increase security staff, improve surveillance, end high-risk international VIP trips known as “junkets” and implement leadership changes.<\/p>\n<\/div>\n<\/div>\n

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The scandal has already led to the resignation of executives, including former CEO Matt Bekier.<\/p>\n<\/div>\n<\/div>\n

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