The fallout from the Crown Resorts scandal has made its way to the Australian Parliament, where a bill has been introduced to require gaming operators to compensate the victims of gambling activities that were sourced from funds obtained illegally.
The “Making Gambling Businesses Accountable Act,” as the measure is called, was introduced by Andrew Wilkie, a member of the House of Representatives for the Independent Party and a long-time critic of the country’s ubiquitous slot machine industry.
The bill uses the Criminal Code’s definition of “stolen property” to extend the reach of the existing Anti-Money Laundering and Counter Terrorism Financing Act, putting the onus on operators to report to AUSTRAC, the government’s financial crimes agency, any transactions involving possibly illicit funds.
The aim, Wilkie said, is to make operators responsible for ensuring that the monies they accept are not derived, in his words, from “the misfortune of innocent parties.”
“This bill will ensure that gambling entities are more accountable and will also prevent them from profiting from illegal behavior,” he said.
Though the legislation mainly targets online operators, the entire industry has found itself in an unwelcome spotlight following revelations that ASX-listed Crown Resorts, the country’s largest casino company, had turned a blind eye to money laundering at its flagship Crown Melbourne and routinely recruited and entertained high rollers in league with junkets with alleged ties to criminal organizations in China and Hong Kong.
The revelations, contained in an explosive series of 2019 reports in the national media, has sparked inquiries by AUSTRAC, by regulators in Crown’s home state of Victors and by regulators in New South Wales, where Crown is slated to open a luxury resort with a casino at Sydney’s Darling Harbour in December.
Support for Wilkie’s bill in the House of Representatives was unclear at press time. It was reported only that backing was expected from most of the minority parties, including Wilkie’s Independents, which amounts to only six seats in the 151-seat lower chamber.
