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The Star hit with $67.9 million fine over AML, governance shortcomings in Australian casinos

( December 9, 2022, 06:02 GMT | Official Statement) -- MLex Summary: The Star Entertainment has been hit with a fine of A$100 million ($67.9 million) and its gambling licenses will be suspended for 90 days after a state-based money-laundering inquiry found multiple money-laundering and governance failures at the Australian casino operator. In a statement to the Australian Securities Exchange, The Star also revealed that the Commissioner for Liquor and Gaming, in the Northeastern state of Queensland, had mandated the appointment of a special manager to monitor the operations of two casinos operated by the company: Treasury Brisbane and The Star Gold Coast. The fine and disciplinary measures are separate to a penalties’ lawsuit brought against the company by Australia’s financial-crime watchdog.The Star Entertainment's full statement to the Australian Securities Exchange, including a press release from the Queensland government, is attached. ...

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