Victoria’s Crown Royal Commission released its final report, affirming findings made by a similar inquiry conducted in NSW. The report alleges that Crown Melbourne “had engaged in…conduct that was variously illegal, dishonest, unethical and exploitative”.
The Commission recommended that a Special Manager should be appointed for a two-year period to report on what has occurred and how the results of inquiries conducted in NSW, Victoria and WA have been responded to by Crown. The regulator will then decide whether it is ‘clearly satisfied’ that Crown Melbourne has returned to suitability and is therefore eligible to retain its casino licence.
Findings included that Crown Melbourne may have breached several anti-money laundering obligations. AUSTRAC’s enforcement team, which has been reviewing Crown as a result of an AML compliance assessment commenced in September 2019, will examine the inquiry reports as part of its investigations.
All regulated entities should ensure that they are familiar with and adequately training all staff on relevant AML-related matters. You can follow industry-specific guidance provided by AUSTRAC on its website.