The Australian Transaction Reports and Analysis Centre (AUSTRAC) has announced the enforcement agency discovered suspected violations of the anti-money laundering and counter-terrorism laws at SkyCity (ASX:SKC)
’s casino operations in Adelaide.
Gaming giant SkyCity Entertainment (ASX:SKC)
has confirmed its awareness of the allegations associated with a compliance investigation into its Adelaide gaming venue’s activities dating back to September 2019.
The investigation scrutinised compliance practices applied to high-risk individuals and politically-engaged customers during FY16 and FY19.
The corporate enforcement agency has launched an official inquiry into the compliance standards and legitimacy of transactions at SkyCity’s Adelaide Casino.
The gambling venues operator has revealed to investors that AUSTRAC has not determined its next course of enforcement action or regulatory response.
SkyCity has assured investors that the $2.6 billion corporation will fully co-operate with authorities and disclose adequate information to assist the investigative effort.
Shares in SkyCity Entertainment Group (ASX:SKC)
are trading 5.3 per cent lower at $3.22