Sydney casinos to make their gaming operations cashless after money laundering scandal

Thursday 13 May 2021 13:07 CET | News

In a bid to stamp out money laundering, The Star and Crown Sydney, Sydney's only two casinos, have announced plans to make their gaming operations cashless.

The two Australian casinos, agreed to the unusual move, according to BBC. The announcement comes after an inquiry earlier in 2021 found it was likely criminal activity had occurred at Crown Resorts’ casinos in other Australian cities.

The enquiry revealed that Crown had been ‘facilitating money laundering, exposing staff to the risk of detention in a foreign jurisdiction and pursuing commercial relationships with individuals’ connected to criminal groups.

The Independent Gaming and Liquor Authority (ILGA) said The Star was also ‘moving towards cashless gaming’. A company spokesman told the BBC that the move will happen gradually in time, focusing also on customer experience.

If enforced, both casinos would require gamblers to use cards linked to their identity and a bank or other financial institution, said ILGA.

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Keywords: money laundering, cashless, gambling, banks, AML, debit card
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Australia
This article is part of category

Securing Transactions