Celebrity Casino billed by Australian regulatory authority for breaching anti-money laundering laws from ezuzax's blog

Celebrity Casino, a subsidiary of Celebrity Entertainment centered in Pyrmont, Sydney, will face significant penalties from the Australian Deal Records and Evaluation Centre (AUSTRAC), known as Australian anti-money laundering regulatory authority, for presumably "enabling customers to move cash through risky back networks and proceeding business with higher-risk customers in violation of government anti-money laundering legislation."

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On Wednesday, November 30th, an insurance claim was lodged in the Government Court looking for civil penalties versus Celebrity Entertainment, following the final thought of a joint examination with police and regulatory authorities in NSW and Queensland, which began in September 2019.

The Australian Deal Records and Evaluation Centre (AUSTRAC) insists: "Celebrity cannot implement lawfully required monitoring of money-laundering dangers. The violations were major and methodical in the lack of these risk-based manages and Celebrity entities were vulnerable to bad guy exploitation.

"The Celebrity didn't take seriously enough the laws about anti-money laundering and terrorism funding in the face ofin the face of known and lots of money laundering and terrorism funding dangers. The board and elderly management cannot develop appropriate abilities and cannot spend in appropriate automated solutions.

"In the lack of appropriate manages, Celebrity Sydney and Celebrity Qld provided assigned solutions to high-risk customers in circumstances where concerns should have been increased as to the authenticity of their resource of riches or resource of funds. These failings subjected Celebrity Sydney and Celebrity Qld to the risk of being made use of by organized criminal offense."

Furthermore, the company used money from "high-risk networks that weren't based on appropriate risk-based manages, such as junkets, where anybody that wasn't a employee would certainly bring a team of bettors from abroad."

Nicole Increased, CEO at AUSTRAC, said: "All gambling establishments must take anti-money laundering responsibilities seriously as bad guys will constantly look for to make use of the monetary system to launder their money."