The financial crimes watchdog has widened its investigation into casino giant Crown Resorts after uncovering potential breaches of anti-money laundering laws at its Perth resorts | pwhatch
with anti-money laundering laws at its flagship Melbourne casino relating to the due diligence it conducted on high-roller patrons.Philip Gostelow
“As a result, AUSTRAC has initiated a formal enforcement investigation into the compliance of Crown Perth,” the company said in a statement released to the ASX.triggered an 8 per cent crash in Crown’s share price, wiping $500 million from the company’s value. In a further update, Crown also said on Monday it had recently received legal advice that Crown Melbourne breached Victoria’s Casino Control Act between 2012 and 2016 by taking debit and credit card payments from international hotel guests for casino chips, which is banned under state law.Crown took over $160 million in payments in this manner until it ceased the practice in 2016, it said.
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