4th August 2020
The Government has promised to review gambling legislation but patience is running out amid worries that the industry could be used for money laundering. A boom in online and mobile gaming has seen licensed gambling grow by 57 percent in a decade – fuelling worries about the human cost. Betting… Read More
3rd August 2020
Wirecard processed transactions for a Malta-based online casino that was later found to have laundered funds for the ’Ndrangheta mafia organisation, the Financial Times reported Monday. Italian courts determined that the gaming company, Malta-based CenturionBet, was used by an arm of the ’Ndrangheta to launder millions of euros in criminal… Read More
3rd August 2020
Crown Resorts opened accounts with the Commonwealth Bank using “misleading” names that masked their use for gambling and accepted high-risk cash deposits, despite ANZ shutting down similar accounts over money laundering concerns, an inquiry has heard. Crown’s chief legal and regulatory compliance officer Joshua Preston told the NSW government probity… Read More
31st July 2020
Crown Resorts conducts its due diligence of junket partners to check for potential criminal links from within the marketing team tasked with luring wealthy high rollers to its Australian casinos, creating what the group’s legal chief concedes could be a conflict of interest. Joshua Preston, who is responsible for legal… Read More
29th July 2020
Collapsed payments processor Wirecard AG miscoded gambling transactions and had high levels of stolen card purchases and reversed transactions, leading to hefty fines from card networks Visa Inc. and Mastercard Inc., according to people familiar with the matter. Visa and Mastercard each imposed fines exceeding $10… Read More
24th July 2020
Ngeth Both guards one of the many newly built high-rise condominiums in Koh Pich, a luxury district in the Cambodian capital Phnom Penh. Both’s job is quiet most days. There is almost no traffic in the street, and there is hardly anyone living inside the condo. “It’s always quiet. Each… Read More
8th July 2020
Italy’s Banca Generali and other investors from around the world purchased bonds partly backed by the illicit proceeds of the ’Ndrangheta mafia group, the Financial Times reported on Tuesday, citing financial and legal documents. The private bonds stemmed from unpaid invoices owed by Italian public health authorities that were… Read More
7th July 2020
Mastercard was warned about Wirecard’s links to an alleged laundering network in 2016, The Times can reveal. The payments group was handed details of Wirecard’s alleged links to a scheme that used bogus online stores to disguise the processing of high-risk payments, and Mastercard executives privately admitted to concerns about… Read More
6th July 2020
The European Commission said on Thursday it was suing Austria, Belgium and the Netherlands because the three countries had not fully integrated EU rules on anti-money laundering into their national laws. The 27-nation bloc’s executive cited a lack of action on EU law related to fundamental aspects of the anti-money… Read More
3rd July 2020
The B.C. Lottery Corporation has finally given up a decade-long fight to keep a secret. In 2010, BCLC was hit with a $700,000 fine by FINTRAC, the country’s money laundering watchdog, for undisclosed violations of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. It was the largest penalty… Read More