10th November 2020
The Crown Resorts probity inquiry has raised the prospect of the casino giant facing criminal charges for dealing with the proceeds of crime after it allowed dirty cash to be laundered through its bank accounts. In the fourth day of closing submissions to the NSW Independent Liquor and Gaming Authority… Read More
6th November 2020
Chuang Chou-wen (莊周文), a billionaire chairman of a financial holding headquartered in Taichung, Taiwan, has been arrested for his alleged connection to illegal gambling and money-laundering, and as of Wednesday (Nov. 4), he was being held in Changhua, Taiwan. Chuang, the chairman of Xin Li Wang Intl. Holding Group (新力旺國際控股集團),… Read More
6th November 2020
The B.C. Lottery Corporation took no action against a high roller who’d been caught taking a large cash delivery from a banned loan shark who was actively being investigated by the RCMP for money laundering, a provincial inquiry heard Wednesday. Daryl Tottenham, an anti-money laundering investigator with the Lottery… Read More
5th November 2020
An Australian regulatory inquiry raised the prospect on Thursday of cancelling the casino licence of gambling giant Crown Resorts Ltd over alleged corporate governance failures, casting a shadow over the company weeks before a $1.6 billion resort opening. The lawyer conducting hearings into the allegations also called for restrictions on… Read More
4th November 2020
B.C.’s public inquiry into money laundering heard more testimony on how front-line casino regulators and investigators did not have – or did not think they had – the authority to stop bags of $20 bills from being cashed in by patrons. This time, it was former Gaming Policy and Enforcement… Read More
3rd November 2020
The International Compliance Association’s BIG Compliance Festival concluded on a high note last week as financial crime expert and Compliance Week columnist Martin Woods sat down with Dr. Marcus Pleyer, president of the Financial Action Task Force (FATF), for an exclusive interview. In a wide-ranging and forward-looking discussion, Pleyer emphasized… Read More
28th October 2020
Vast amounts of cash started flowing into British Columbia’s largest casino in 2010 and transactions of $800,000 or more became common as players hauled in bags, suitcases and backpacks full of cash, an inquiry heard Monday. Steven Beeksma, who worked as a surveillance manager at the River Rock Casino in… Read More
28th October 2020
The Senate will start hearing the proposals to amend the Anti-Money Laundering Act (AMLA) to help boost the government’s efforts against the entry and flow of illegal money in the Philippines. “We expect to have an all-hands-on-deck involvement of top officials of concerned agencies in tackling this vital anti-corruption and… Read More
27th October 2020
The financial crimes watchdog in 2017 said junket partnerships with Australian casinos were compliant with anti-money laundering laws, despite detailed evidence in a NSW probe revealing alleged money laundering at Crown Resorts has been rife for years. An Austrac report obtained by News Corp revealed the financial crimes regulator ticked… Read More
27th October 2020
B.C. real estate developer Yongtao Chen stepped onto the podium in a Vancouver hotel ballroom and enthusiastically waved a red flag to a loud round of applause. He had just accepted a new role as chairman of the Canadian Alliance of Chinese Associations (CACA) and was displaying their banner at… Read More