26th February 2020
European regulators have identified vulnerabilities in the anti-money laundering and terrorism financing measures at Melco Resorts’ casino in Cyprus, an inquiry into Crown has heard. The Council of Europe’s anti-money laundering body, Moneyval, said in December 2019 that it had discovered “weaknesses” in compliance at the single casino on the… Read More
26th February 2020
A lawyer for a gaming expert says limiting the amount of cash flowing through casinos is the only way to stop money laundering at the facilities in British Columbia. Christine Mainville told a public inquiry Tuesday that money is not being laundered through casinos in any traditional sense and it… Read More
24th February 2020
In 2017, Cheng Ting Kong was riding high. He co-owned a multi-million dollar business bringing high-roller gamblers from China into casinos around the country and he was busy building a $75 million dollar stake in Australia’s horse racing industry. But behind the scenes, Australia’s national criminal intelligence agency was watching… Read More
14th February 2020
The government has given its assurance that it will soon implement the EU’s new anti-money laundering rules, as Malta faces infringement procedures later this month if it fails to do so. The fifth anti-money laundering directive, the latest set of rules designed to cut down on financial crime in Europe,… Read More
14th February 2020
A whistleblower and former employee of ClubsNSW has claimed that money laundering through poker machines is rife in pubs and clubs across the country. In an exclusive interview with the ABC, Troy Stolz, a former ClubsNSW anti-money laundering and counter-terrorism finance (AML/CTF) compliance auditor, said that the scale of the… Read More
13th February 2020
Gibraltar must do more to combat money laundering and terrorism financing, according to a detailed report by a team of international experts who identified fundamental “shortcomings” in compliance with international standards, even while acknowledging that key supervisors here have “a robust understanding” of the risks and requirements. The 250-page… Read More
11th February 2020
After fighting the CBC for nine years over the release of money laundering records, the B.C. Lottery Corporation is finally relenting. After three trips to court, a full hearing before B.C.’s information and privacy commission, and another hearing coming up, the lottery corporation now plans to go to court to get… Read More
10th February 2020
The Crown casino high-roller and junket partner known as “Mr Chinatown” – who is also a business partner of the Chinese president’s cousin – has been arrested and extradited to China for suspected money laundering and corruption. Crown Resorts regarded Tom Zhou as a “very, very important person” and paid… Read More
5th February 2020
China limits how much money one person convert into foreign currency each year. Two Las Vegas men who helped gamblers bypass that limit have found themselves in deep trouble with the IRS. Las Vegas residents Bing Han and Lei Zhang have pleaded guilty to Operation of Unlicensed Money Transmitting Business,… Read More
31st January 2020
By Robert Diab, Thompson Rivers University People have long been drawn to Vancouver’s idyllic coastal mountain setting. The region’s strong civil liberties and stable economy convince many of them to stay, and Vancouver has thrived with its diverse set of residents. But the city has also become a… Read More