{"id":109,"date":"2024-06-14T22:48:57","date_gmt":"2024-06-14T19:48:57","guid":{"rendered":"https:\/\/pokerstarsnodepositbonus.icu\/2024\/06\/14\/australian-casino-operator-star-entertainment-faces-44-6-million-penalty-for-anti-money-laundering-violations\/"},"modified":"2024-06-17T12:56:30","modified_gmt":"2024-06-17T09:56:30","slug":"australian-casino-operator-star-entertainment-faces-44-6-million-penalty-for-anti-money-laundering-violations","status":"publish","type":"post","link":"https:\/\/pokerstarsnodepositbonus.icu\/2024\/06\/14\/australian-casino-operator-star-entertainment-faces-44-6-million-penalty-for-anti-money-laundering-violations\/","title":{"rendered":"Australian Casino Operator Star Entertainment Faces $44.6 Million Penalty for Anti-Money Laundering Violations"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/tInmuz_JBxo\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Australias financial regulator, AUSTRAC, is pursuing a substantial $67 million (USD 44.6 million) penalty against casino operator Star Entertainment Group.  They&#8217;ve submitted a proposed resolution to the Federal Court, claiming that Star significantly failed to comply with anti-money laundering and counter-terrorism financing regulations.<\/p>\n<p>A judge will determine on June 7th whether to endorse the sanction.<\/p>\n<p>Star is not contesting the allegations, acknowledging they fell short of their responsibilities under the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006.  In particular, they erred in critical anti-money laundering and counter-terrorism financing procedures and did not adequately scrutinize high-risk patrons.<\/p>\n<p>This is not Star&#8217;s first encounter with authorities.  Last September, they were forced to briefly suspend their casino activities due to compliance shortcomings.  Adding to the upheaval, Star&#8217;s CEO Michael Ahearne stepped down in October, followed by the Australian COO David Christian in April \u2013 evident indicators of the company&#8217;s difficulties.<\/p>\n<p>AUSTRAC itself has been intensifying enforcement recently.  They just initiated an inquiry into bet365 for possibly breaching the same laws as Star. <\/p>\n<p>Australias financial crime regulator, AUSTRAC, recently initiated proceedings against a prominent casino entity, Crown Resorts. The agency&#8217;s head, Brendan Thomas, stated that Crown had permitted a series of precarious operations and associations with questionable patrons to endure for an extended period. <\/p>\n<p>This occurrence is not unique within the Australian gaming sector. Numerous operators have faced criticism for improper conduct and inadequate anti-money laundering protocols. <\/p>\n<p>As an illustration, earlier this year, Tabcorp received a penalty for breaching promotional guidelines, while Star Entertainment is confronting significant accusations of its own. These accusations have already resulted in the departure of multiple high-ranking officials, highlighting the gravity of the circumstances. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Australias financial regulator, AUSTRAC, is pursuing a substantial $67 million (USD 44.6 million) penalty against&hellip;<\/p>\n","protected":false},"author":32,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Star Entertainment Faces $44.6M Penalty for Money Laundering Violations<\/title>\n<meta name=\"description\" content=\"Australian casino giant Star Entertainment could be hit with a massive $44.6 million fine for alleged breaches of anti-money laundering laws. 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