Austrac is investigating the SkyCity Adelaide casino

SkyCity is being investigated by Australia’s financial crimes agency because it is suspected of violating money laundering laws. Australia’s Anti-Money Laundering and Counter-Terrorism Financing Authority (Austrac) notified the company that there were a number of concerns, so Austrac launched an investigation into the casino’s compliance with Australian law.

SkyCity has always taken its anti-money laundering obligations seriously, and their practises are constantly evolving to ensure compliance with all regulations. They are unwavering in their commitment to the safety of both our guests and employees, which includes adhering to legal regulatory standards for money laundering prevention.

In a statement, the company stated that it takes its responsibility to combat illegal activities such as money laundering very seriously, adding that it is committed not only on paper but also through management actions such as maintaining strong financial controls and training managers on best practises for preventing this type of crime from occuring within our facilities.

The casino company stated that it would fully cooperate with Austrac

Austrac has begun a compliance audit of SkyCity Adelaide’s management of high-risk and politically exposed customers. The concern arose as a result of a two-year investigation that spanned July 1, 2015 to June 30, 2016, and July 1st, 2018 to June 30th, 2019, the results of which Austrac has yet to release in order to determine their next course of action.

SkyCity, a well-known casino operator in Australia and New Zealand, announced that it would no longer work with junket operators after they were linked to organised crime. The decision is part of Sky City’s new operating model, which is centred on international business customers who meet the “Know your customer” due diligence requirements.

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