Tag Archives: Money Laundering
Mexico – Gangs using gambling to launder money in Eastern Europe
Fears are growing that Mexican drug gangs are using casinos in Eastern Europe to launder money. The Jalisco New Generation (CJNG ) cartel and The Sinaloa Cartel have extended their operations to Eastern European countries, where Albanian criminal groups are responsible for laundering their money say security cabinet authorities. According to local authorities both cartels have established links…
Belgium – EGBA strengthens anti-money laundering efforts with new pan-European guidelines
The European Gaming and Betting Association (EGBA) has published the first ever pan-European, self-regulatory guidelines to strengthen the anti-money laundering (AML) efforts of Europe’s online gambling operators and support the sector’s contribution to the fight against money laundering. The publication of the guidelines continues EGBA’s commitment to promote the highest level of industry responsibility. The EGBA guidelines…
UK – Buzz Group fined after breaching money laundering laws
Buzz Group, which operates buzzbingo.com, must pay a £780,000 fine after a Commission investigation revealed social responsibility and money laundering failures. It has also received a formal warning for the failures which occurred between October 2019 and December 2020. Social responsibility failures included not sufficiently identifying at-risk players as financial triggers were set too high….
Australia – NSW Crime Commission launches money laundering inquiry into pubs and clubs
The Commissioner of the NSW Crime Commission, Michael Barnes, has invited submissions to the Commission’s inquiry into money laundering in pubs and clubs. “Working with the NSW Independent Liquor & Gaming Authority and the Australian Criminal Intelligence Commission, we’ve established that last year $85 billion was gambled in poker machines in pubs and clubs in…
Australia – The Star loses $1bn in value as media scrutiny turns to its money laundering failures
Australian casino group Star Entertainment saw its shares fall by 22.9 per cent, taking nearly $1bn off the company’s market value, following a TV report by 60 Minutes and news paper articles in The Sydney Morning Herald and The Age, claiming Star allowed money laundering by organised crime at its Sydney and Gold Coast casinos….
Australia – Austrac launches money laundering investigation in Perth, Sydney and Adelaide
More controversy looks to be heading to the casino sector in Australia where the Australian Transaction Reports and Analysis Centre (Austrac) has contacted three of the major operators over potential money laundering breaches. Austrac has contacted Crown Resorts, Star Entertainment Group and SkyCity Entertainment Group over breaches of Anti-Money Laundering laws at casinos in Perth,…
The Netherlands – KSA amends money laundering guidelines ahead of online launch
The Dutch Gaming Authority KSA has amended the Wwft Guideline with a view to the entry into force of the Remote Gaming Act (Koa) on April 1 2021. The Act on the Prevention of Money Laundering and Terrorist Financing (Wwft) will also apply to providers of online games of chance. Currently, the provisions in the…
Singapore – Investigation at Marina Bay Sands could send VIPs to rival
Las Vegas Sands’ Singapore casino Marina Bay Sands is being investigated by the US Department of Justice (DOJ) for potentially breaching anti-money laundering laws. The DOJ has reportedly issued a subpoena to a former MBS compliance chief to provide documents and any other information related to the accounts of VIP players. The investigation concerns junkets…
UK – Caesars facing £13m fine in the UK as three senior managers lose their licences
The Gambling Commission has announced that Caesars Entertainment UK Limited is to pay £13m and must implement a series of improvements following a catalogue of social responsibility, money laundering and customer interaction failures including those involving ‘VIPs’. As a result of this investigation three senior managers at the company surrendered their personal licences. The regulator’s…
