Watchdog reveals extent of Crown’s junket qualms
Of the almost 500 criminal transactions reported to the watchdog by casino operators about junket tours, 295 were from Crown Melbourne.
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Almost 300 suspected criminal transactions linked with junket tours were made at Victoria’s Crown casino last year, according to Australia’s financial crimes watchdog.
Figures obtained by the Herald Sun reveal that of about 500 transactions involving junket tours reported to Austrac by casino operators, 295 were from Crown Melbourne.
In total, the Victorian casino made 50,000 reports to the watchdog last year, including almost 5000 relating to suspicious transactions.
Austrac warned junket tour operators this month they were the target of organised criminal syndicates and foreign spies seeking to launder money though casinos and potentially make political donations.
Junkets bring high rollers from China to casinos and extend credit to them, enabling them to get around Beijing’s tight controls on capital.
Austrac introduced a new risk assessment that identified some tour operators had links with criminal organisations. Businesses, including casinos, are required to report any people or transactions that could be linked with crime using a suspicious matter report.
Austrac chief executive Nicole Rose said casinos needed to comply with the rules to disrupt criminal activities, including foreign interference.
“Money laundering and financial crime enables serious criminal activity such as drug trafficking and human trafficking which causes harm to our communities,” Ms Rose said.
“I urge casinos to take prompt action by assessing their levels of risk posed by junket operations, strengthening their controls and reporting suspicious activity to Austrac.”
Crown confirmed in November it had suspended all junket operators until June 2021 while a “comprehensive review” of company practices was completed.
“The board has determined that Crown will permanently cease dealing with all junket operators, subject to consultation with gaming regulators in Victoria, Western Australia and NSW,” a Crown statement to the ASX said.
“Crown will only recommence dealing with a junket operator if that junket operator is licensed or otherwise approved or sanctioned by all gaming regulators in the states in which Crown operates.”
The NSW independent Liquor and Gaming Authority has been investigating Crown over its partnerships with junket operators allegedly linked with organised crime.
Crown delayed the opening of a new casino in Sydney until after the inquiry hands down its findings in 2021.
Earlier this year Austrac announced it was investigating Crown for potential breaches of anti-money laundering laws at its Melbourne venue.
Originally published as Watchdog reveals extent of Crown’s junket qualms
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