Anti-money laundering compliance by Crown Resorts

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Anti-money laundering compliance by Crown Resorts is again on the point. Experts of anti-money laundering compliance report this inquiry.

Neil Jeans is is the consultancy from anti-money laundering. NSW government’s inquiry into Crown’s suitability to hold a casino licence in the state last week that Mr Alexander’s comments to the press on August 21 last year didn’t reflect his advice to the company.

The inquiry follows an investigation in 2019 where Crown’s business with junket operators related to Asian crime gangs.

During a media conference, Mr Alexander said: ‘Mr Jeans told the board that we are completely compliant. We are a gold star customer.’

Mr Jeans noticed that was “not an accurate statement” for NSW inquiry. Moreover, it didn’t reflect what he told Crown’s risk management committee on August 9. As well as, the board of directors on August 20.

Mr Jeans said that Crown’s anti-money laundering systems satisfied the requirements of Australia’s rules. Also, Crown the media reports didn’t contrast with the findings of his compliance review.

But Mr Jeans told the inquiry also didn’t reflect what he said in those meetings.

He told that his compliance review of the existence of patron deposit bank accounts Crown opened through two shell companies. These companies are Southbank Investments and Riverbank Investments.

Crown is a suitable company to hold the licence for its new $2.2 billion casinos at Sydney’s Barangaroo. The NSW inquiry is considering this.

Crown’s chief financial officer Ken Barton noticed that the company would not repeat the comments.

The inquiry has discovered that the company couldn’t control transactions in those accounts. As well as, they were used for suspected money laundering over several years.

Official Page of Crown Resorts.

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