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Counsel assisting the inquiry have argued Crown is unfit to operate the casino, which is set to open next month, due to its failure to prevent money laundering at its Melbourne and Perth casinos. Crown Bus If you want to spend a fun day out at Crown Perth, then jump aboard the Crown Bus! It’s an easy and exciting way to enjoy all the wonderful entertainment options at Crown Perth. Www.seniors.gov.au Australian Government’s premier source of information for Australians over 50. Designed to create the feeling of unimagined luxury and spaciousness, Crown Towers Perth guest rooms are styled in peaceful neutral tones accented with the highest quality furnishings and amenities. Every room and suite offer the latest touch screen technology, 24-hour guest service, and access to the resort pools and gymnasium.
Billionaire James Packer has accepted partial responsibility for his casino empire Crown’s failings in China but has denied the accusation he threatened senior executives....
Billionaire James Packer has accepted partial responsibility for his casino empire Crown’s failings in China but has denied the accusation he threatened senior executives.
The financial crimes watchdog in 2017 said junket partnerships with Australian casinos were compliant with anti-money laundering laws. Picture: Michael Dodge/ AAP.Source:AAP
The financial crimes watchdog in 2017 said junket partnerships with Australian casinos were compliant with anti-money laundering laws, despite detailed evidence in a New South Wales probe revealing alleged money laundering at Crown Resorts has been rife for years.
An AUSTRAC report obtained by this publication has revealed the financial crimes regulator ticked off on the conduct of overseas junket operators at casinos, noting venues were “broadly” compliant with anti-money laundering and counter terrorism financing laws.
“Casinos are broadly aware of and comply with their AML/CTF obligations regarding casino junkets.” AUSTRAC said in its 2017 review of junket operators.
James Packer appears at the Crown casino inquiry.Source:Supplied
The historic assessment by the financial crimes regulator has surfaced at a time when a NSW Independent Liquor and Gaming Authority (ILGA) inquiry has heard evidence junket operators at Crown Melbourne and Perth, allegedly laundered money in private gaming rooms well before 2017.
Junket operators are overseas companies that partner with casinos to attract international VIP customers on gaming holidays, particularly targeting high roller Chinese gamblers.
The NSW ILGA inquiry is seeking to determine if Crown should retain a gaming licence for its $2.4 billion Sydney Barangaroo development.
A NSW ILGA inquiry is seeking to determine if Crown should retain its Sydney gaming licence. Picture: NCA NewsWire/Jeremy PiperSource:News Corp Australia
AUSTRAC chief executive Nicole Rose, who was handed a heavily redacted version of the 2017 compliance at Senate Estimates last week, said the document was “aged” and “not correct”.
Ms Rose said AUSTRAC’s assessment of AML/CTF compliance within casinos was based on independent audits provided by the gaming operator to the regulator.
“I am told the risk assessment has now aged and is not correct,” Ms Rose said.
“The issue with junkets … is that they are hosted offshore and there are challenges with the legislation with us being able to regulate junket operators.”
Crown Resorts confirmed AUSTRAC was investigating the company regarding possible noncompliance breaches at its Melbourne casino in September 2019.
The possible noncompliance flagged by AUSTRAC comes after media allegations some of the casino’s junket partners had links to organised crime.
Crown admitted during the NSW gaming probe junket tour operators were the primary revenue source in its VIP gaming business. The Barangaroo casino is being designed as a VIP playing casino.
According to AUSTRAC, 43 per cent of suspicious casino transactions in 2019 were reported at either Crown Melbourne or Perth.
AUSTRAC CEO Nicole Rose said the 2017 report had ‘aged’. Picture: NCA NewsWire/Gary RamageSource:News Corp Australia
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Labor federal Minister Daniel Mulino said the backflip on compliance raised concerns about the institutional responsibilities AUSTRAC had as the financial crimes regulator.
“If AUSTRAC had properly investigated systemic breaches of AML/ CTF legislation by casinos in 2017, it might not have been left to a NSW licensing inquiry to do that job now,” Dr Mulino said.
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“Australians need to know why AUSTRAC has suddenly changed its mind about junkets and why it hasn’t taken action before now.”
The Financial Action Task Force (FATF), a global body seeking to curb financial crimes, identified casino junket operators as significant money laundering risk in 2009.
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“Casino-based tourism or ‘junkets’ are identified as a vulnerability as they involve the cross-border movement of people and funds and often target high net-worth/VIP clients,” FATF said in its 2009 report.
“Transparency of the movement of funds is an issue with junkets, due to gaps in controls, and weak implementation and supervision.”
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A 2018 review by FATF of Australia’s anti-money laundering laws, found legislation remained non-compliant or only partially compliant with 14 of the 40 recommendations the global task force made in its previous evaluation report in 2015.