AUSTRAC to focus on gambling industry

Australia’s anti-money laundering regulator, AUSTRAC is set to sharpen its focus on the gambling industry this year, local media reports.

Last year, AUSTRAC chief executive Nicole Rose warned that the agency would examine potential “gaps” in regulations that dictated what casinos need to know about their gaming customers, especially VIPs. 

The news comes just a few weeks before a public inquiry from the NSW Independent Liquor and Gaming Authority into Crown’s suitability to hold a casino license in Sydney, along with the suitability of its 9.9 percent shareholder, Melco Resorts.

The inquiry came after an investigative report by The Age, 60 Minutes and the Sydney Morning Herald, which made a series of explosive allegations against the company, including dealing with junkets with links to organized crime, money laundering through its casinos and working with immigration to fast track visas for VIPs.