Consultancy Grant Thornton has acquired boutique anti-money laundering specialist firm Initialism as it seeks to cash in on a jump in financial crime work.
Crown breached new financial crime policy, inquiry hears
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Crowns Resorts has already contravened its new anti-money laundering policy to not receive cash deposits, an inquiry has heard, adding to the cache of evidence casting doubt on Crown’s ability to reform and rid its casinos of financial crime.
Commissioner Hon. Raymond Finkelstein AO QC.
AFR
The Victorian royal commission into Crown also heard the James Packer-backed casino group for more than a year ignored expert advice telling it to examine key bank accounts identified as facilitating money laundering before hastily commissioning a deliberately “limited” review sparked by the NSW Bergin inquiry’s spotlight on the accounts.
Crown doing bare minimum on reform, inquiry hears
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Crown Resortâs bank accounts were still being used to facilitate money laundering as recently February this year at its flagship Southbank casino in Melbourne, casting doubt on Crownâs ability to reform and rid its casinos of financial crime, the Victorian royal commission into the casino giant heard on Monday.
Counsel assisting the royal commission, Meg OâSullivan, revealed 14 of 45 Crown bank accounts show evidence of money laundering activity as recently as three months ago that were not examined by last yearâs damning NSW Bergin inquiry, which found the James Packer-backed casino operator unfit to open its Sydney casino at Barangaroo.
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