Crown To Face $450 Million Fine
Australian casino operator Crown is looking at a potential fine of $450 million over its failings of money laundering laws and could relate also to breaches in counter-terrorism laws.
AUSTRAC the financial watchdog has filed a federal court action against Crown that if the operator has to pay would be the biggest ever global fine by any casino operator in history.
The action against both the companies casinos in Melbourne and Perth relate to a total of 546 breaches say the watchdog mainly in its VIP rooms with junket players and Macau junket operator SunCity.
It is claimed that from 2016 to 2020 SunCity ran its own cash desk operations there overseeing millions in suspicious transactions that even local law enforcement officers questioned.
AUSTRAC claims that on many occasions players were seen carrying huge amounts of cash into the VIP rooms in carrier bags and shoe boxes without questions of where they got the money.
Michael Hodge KC representing AUSTRAC said, “Cash was brought into the room by unknown persons and exchanged by junket operators with other unknown persons. Cash was colourfully carried in paper bags, shoeboxes, and briefcases.”
Mr Hodge went on to say that it is impossible to know how much and by whom organised and facilitated these actions. He also said that there were no controls or monitoring of transactions within the VIP rooms at Crown.
The hearing continues.
