Friday, 2 December, 2022

Australia casino gets record fine for money laundering

Australian gambling giant Star Entertainment Group has been fined A$100m ($62m, £55m) for failing to stop money laundering at its Sydney casino.

The group's licence to operate the casino has also been suspended.

The Star has promised to "do everything in [its] power" to regain its licence and the community's trust.

Casino operators in Australia have been under great pressure to reform their gambling operations following reports of widespread criminal activity.

The record penalties were announced in response to a damning inquiry in New South Wales (NSW) earlier this year.

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.