Crown Resorts top legal officer has told a probity inquiry that its anti-money laundering teams didn’t monitor two bank accounts suspected to have been used to launder money.
The ANZ and Commonwealth banks shut down the accounts after Crown clients used them to make a string of suspicious transactions totalling hundreds of thousands of dollars, according to local media reports.
The inquiry is being carried out by the NSW Independent Liquor and Gaming Authority.
Chief legal officer Joshua Preston recanted evidence given on July 31 that the accounts had been reviewed by anti-money laundering teams, the reports said.
The bank accounts were held through two shell companies Crown set up called Southbank Investments and Riverbank Investments. Customers were able to deposit money for gambling, as the company names hid the fact money was going to a casino, the reports said.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Japanese Prime Minister Yoshihide Suga oversaw a central government meeting on Friday which confirmed the outlines and the timeline of the nation’s IR development policy. He promised that it would be carried out with “fairness and transparency.”
Sociedade de Jogos de Macau, S.A. says its eligible employees will receive Living Subsidies equivalent to 2 months or 1.5 months of salary. The Living Subsidies will be made in two equal payments in January and July respectively, with the first payment to be made on 6 January 2021.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.