Crown Resorts is being formally investigated by the financial crimes watchdog over potential breaches of anti-money laundering laws in its flagship Melbourne casino.
The ASX-listed casino giant, which counts billionaire James Packer as its largest shareholder, told investors on Monday morning that it had received a notice from AUSTRAC about potential “non-compliance” and that the regulator had referred the matter to its enforcement team.
AUSTRAC’s concerns were identified in a compliance assessment that began in September 2019 and examined “Crown Melbourne’s management of customers identified as high risk and politically exposed persons.”
More to come.
Source: Thanks smh.com