Operator News
Singapore – Casino Regulatory Authority Of Singapore wants better international unity
By Phil - 3 August 2016
The Casino Regulatory Authority Of Singapore wants casinos and regulators all over the world to work together to stop trans-national crime in the casino sector.
Speaking at the fourth-annual Singapore Symposium On Casino Regulation And Crime, Lee Tzu Yang, Chairman for the Casino
Regulatory Authority Of Singapore, said: “The industry is dynamic and continues to change. Asia continues to be a source of growth for the industry. While many Asian countries plan for legislation, the entities they seek to regulate are often part of larger regional or international organizations, which are already operating in other jurisdictions. These have associated risks such as money laundering, terrorism financing, illicit flow of funds and syndicated cheating. Regulators can better learn and adapt through discussions with like-minded counterparts.”
“Developments on the part of regulators include concerns about money laundering and transnational crime. In some countries in Asia, we have seen moves to initiate new or revise existing legislation.
There are many potential concerns from having casinos. We know that the presence of casinos will likely increase the incidence of problem gambling in society and resulting social issues and give rise to potential for criminal exploitation and dishonest gaming. In Singapore, we take this carefully into account in the work of the Casino Regulatory Authority Of Singapore.”
