Marina Bay Sands probed for AML practices
Singapore casino Marina Bay Sands, owned and operated by the Las Vegas Sands group, is currently being investigated by the US Department of Justice (DOJ) over compliance procedures. The investigation is centered around potential breaches of the casino’s anti-money laundering (AML) regulations.
Bloomberg reported that earlier this year, the DOJ issued a subpoena for documents and any other information related to VIP players’ accounts. US prosecutors are rumoured to investigate possible violations involving the use of junkets or third-party lending using casino credit, as well as any possible retaliation against whistleblowers.
This is not the first time Marina Bay Sands was involved in the money-related inquiry. Bloomberg brought up an old case involving the casino, where the funds of one of the players were transferred to another account without the player’s consent. It’s been revealed some of the authorisation letters have been mishandled, which led to the company adjusting its practices.
The report alleges the Singapore’s Casino Regulatory Authority (CRA) is also looking into the venue’s money transfer policies. However, CRA said it hasn’t been contacted by any other agency related to the issue, adding that, “the casinos in Singapore, including Marina Bay Sands, remain free from criminal influence or exploitation, and takes a serious view of any allegations of unauthorized money transfers”. Marina Bay Sands stated it hasn’t been contacted by the DOJ but will take the allegations seriously.
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