We are committed to improvement but there is a lot still to do,” he told the ASX in a statement. “We are transforming our culture, transforming our business. Star’s chief executive, Robbie Cooke, said the company had cooperated with investigators and was reviewing Austrac’s statement of claim. Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup “The Star Entities also failed to carry out appropriate ongoing customer due diligence, which has led to widespread and serious non-compliance over a number of years.” “Austrac’s investigation identified a multitude of issues including poor governance and failures of risk management and to have and maintain a compliant AML/CTF program,” she said in a statement on Tuesday. The Queensland government has also issued the company with a show-cause notice as to why it should continue to hold a casino licence in that state after its own inquiry, also last month.Īustrac will allege Star allowed customers to move money through non-transparent and highly risky channels, didn’t know where the money in those channels was coming from and failed to consider their ongoing business relationships with higher risk customers.Īustrac’s chief executive, Nicole Rose, said all casinos must take anti-money laundering obligations seriously as “criminals will always seek to exploit the financial system to launder their money”.
