{"id":12,"date":"2024-06-10T14:00:10","date_gmt":"2024-06-10T11:00:10","guid":{"rendered":"https:\/\/luckylegendsnodepositbonuscodes2024.icu\/2024\/06\/10\/australian-casino-giant-star-hit-with-major-anti-money-laundering-lawsuit\/"},"modified":"2024-06-12T10:48:23","modified_gmt":"2024-06-12T07:48:23","slug":"australian-casino-giant-star-hit-with-major-anti-money-laundering-lawsuit","status":"publish","type":"post","link":"https:\/\/luckylegendsnodepositbonuscodes2024.icu\/2024\/06\/10\/australian-casino-giant-star-hit-with-major-anti-money-laundering-lawsuit\/","title":{"rendered":"Australian Casino Giant Star Hit with Major Anti-Money Laundering Lawsuit"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/YcyrRHrJRaM\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The Financial Intelligence Unit of Australia (AUSTRAC) has initiated legal proceedings against Star Pty Limited and Star Entertainment QLD Limited, claiming substantial violations of Australia&#8217;s anti-money laundering and terrorism financing regulations. These infractions are considerable and seem to be widespread, suggesting a possible trend of wrongdoing. <\/p>\n<p>AUSTRAC&#8217;s inquiry, commenced in 2019, has revealed a series of worrisome practices, including an inability to sufficiently evaluate the dangers of money laundering and terrorism financing, insufficient supervision from upper management and the board of directors, and a deficiency in appropriate due diligence on clients who posed a heightened risk of money laundering. <\/p>\n<p>This legal action follows a wider sector examination and emphasizes the Australian government&#8217;s dedication to suppressing financial crime. The investigation involved cooperation with other regulatory agencies, including those supervising gaming in New South Wales and Queensland, underscoring the gravity of the accusations. <\/p>\n<p>Lawbreakers attempt to leverage financial structures to cleanse their illicit funds and inflict damage upon our communities,&#8221; declared Nicole Rose, the director of AUSTRAC, Australia&#8217;s financial intelligence unit. &#8220;Companies are frequently the initial safeguard because they are the ones who initially detect questionable dealings.&#8221;<\/p>\n<p>Rose highlighted that AUSTRAC&#8217;s inquiry revealed significant shortcomings within Star, encompassing inadequate administration, loose supervision, and a deficiency in executing strong anti-money laundering and counter-terrorism funding initiatives.<\/p>\n<p>&#8220;Star simply didn&#8217;t take sufficient action to understand their clientele,&#8221; she continued, &#8220;which permitted unlawful actions to thrive directly under their watch for an extended period.&#8221;<\/p>\n<p>AUSTRAC emphasized that the decision regarding the issuance of a civil penalty order and the establishment of any financial repercussions lies with the judicial system. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Intelligence Unit of Australia (AUSTRAC) has initiated legal proceedings against Star Pty Limited and Star Entertainment QLD Limited, claiming substantial violations of Australia&#8217;s anti-money laundering and terrorism financing regulations. These infractions are considerable and seem to be widespread, suggesting a possible trend of wrongdoing. AUSTRAC&#8217;s inquiry, commenced in 2019, has revealed a series [&hellip;]<\/p>\n","protected":false},"author":98,"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 in Hot Water: AUSTRAC Alleges Money Laundering<\/title>\n<meta name=\"description\" content=\"Is Star Entertainment facing serious legal trouble? AUSTRAC alleges widespread violations of anti-money laundering laws. 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