ASIC Slams Star Entertainment Board for Ignoring Money Laundering Red Flags
2025-02-10
Sydney Morning Herald
The Australian Securities and Investments Commission (ASIC) has launched a scathing attack on 10 former Star Entertainment board members and executives, accusing them of being 'incurious and complacent' in the face of blatant red flags pointing to money laundering and illicit activities at the casino. This shocking revelation highlights the need for greater corporate governance and anti-money laundering (AML) measures in the gaming industry. With ASIC cracking down on non-compliant companies, it's essential for businesses to prioritize risk management and regulatory compliance to avoid hefty penalties.