Hotels

Crown, The Star and SkyCity all hit with money laundering investigations

Huntley Mitchell

Huntley Mitchell

Three ASX-listed hospitality companies are under investigation by the Australian Transaction Reports and Analysis Centre (AUSTRAC) over concerns of possible money laundering.

Crown Resorts, The Star Entertainment Group and SkyCity informed shareholders that they had been informed by AUSTRAC’s Regulatory Operations Team that it has identified “potential serious non-compliance” with anti-money laundering and counter-terrorism financing laws in relation to Crown Perth, The Star Sydney and SkyCity Adelaide.

Crown was already under the microscope over potential breaches of the Casino Control Act through its hotel card processes at its Melbourne property between 2012 and 2016.

“Crown is continuing its investigations into these matters, including whether it may have breached other laws by reason of the hotel card process,” the company said in a statement.

The Star Sydney and SkyCity Adelaide are being examined over their management of “high risk and politically exposed” customers between 1 July 2015 and 30 June 2016, and between 1 July 2018 and 30 June 2019.

Both companies said in separate statements that they take their anti-money laundering obligations “very seriously” and will “fully co-operate with AUSTRAC” in relation to its inquiries.

The scrutiny could not have come at a worse time for Crown and The Star, with the two exploring the possibility of a merger.


Featured image source: iStock/kokkai

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Destinations

WA, South Australia and New Zealand shut out NSW travellers

Sydney’s COVID situation is starting to get dicey, with some very tight restrictions coming into play both near and far.

Share

CommentComments

Aviation

Virgin announces massive competition encouraging Aussies to get vaccinated

Rumour has it Rex is also mulling an incentive out of fear that anti-vaxxers boycotting both Qantas and Virgin will swarm its flights.

Share

CommentComments

Cruise

Holland America Line cancels 2021 Aussie cruises

The line is the latest Carnival Corp subsidiary to pull the plug on Aussie cruises for this year.

Share

CommentComments

Events

Have you registered for Travel DAZE 2021? It’s free, but spaces are limited!

While you’ve still got time to register your attendance, we highly recommend doing so ASAP to avoid disappointment!

Share

CommentComments

Hotels

Accor partners with IGLTA to promote LGBTQ+ tourism year-round

The hotel giant is extending its Pride Month festivities into a full-time commitment celebrating and supporting the LGBTQ+ community.

Share

CommentComments

Midweek Interview

Life in the time of COVID-19 with W Hotels’ Craig Seaward

This week, the GM of W Sydney showed us how to make “toad in the hole”. We politely declined to eat the monstrosity.

Share

CommentComments

Aviation

Virgin Australia renews GDS agreement with Sabre, resumes Melbourne services and drops flight sale

We’re spoiling you on Travel Weekly today with a triple treat of news from Virgin.

Share

CommentComments

Technology

Luxury Escapes unveils $200m vaccine incentive to reopen Australia to the world

The online travel company has gone CRAZY BIG with its vaccine incentive in the hope it will help reopen Australia’s international borders.

Share

CommentComments

Aviation

Qantas boss Alan Joyce the most mentioned CEO in Aussie media (with Jayne and Skroo not far behind)

This CEO list is a little bit on the predictable side, and not just because it’s full of white, middle-aged men.

Share

CommentComments

Destinations

AFL legend Kevin Sheedy narrates a ‘Love Letter to Victoria’

Sheeds has shown his tender, caring side with a heartfelt letter to his home state.

Share

CommentComments

Travel Agents

“You never felt alone”: Here’s how this Melbournian agent got through (another) lockdown

by Sponsored by MTA - Mobile Travel Agents

There is a common misconception that home-based agents are cut off from their trade community, but this agent reckons that couldn’t be further from the truth.

Share

CommentComments

Destinations

“We have missed Australians so much”: Bali aims for herd immunity and open borders by July

Sellers of silk batiks and Bintang singlets are hurriedly getting their stalls ready, with Bali preparing to reopen to international tourists “within weeks”.

Share

CommentComments