The Gambling Regulatory Authority (GRA) has fined RWS S$2.25 million for failing to conduct customer due diligence checks as mandated by the Casino Control Act 2006 and the Casino Control (Prevention of Money Laundering and Terrorism Financing) Regulations 2009.
In 2020, GRA instructed RWS and Marina Bay Sands to review certain patrons’ activities. RWS found non-compliance in some transactions, reporting them to GRA. Further investigation revealed that between December 2016 and December 2019, RWS neglected required due diligence checks for cash transactions of S$5,000 or more collected from third parties.
RWS failed to identify third-party depositors, record necessary information, and verify identities as per regulations. Despite having controls in place, systemic failures led to non-compliance detection. RWS promptly improved processes, engaged an independent party for SOP review, and assessed corporate culture for enhanced internal controls.
GRA canceled a special employee license for one involved employee and is investigating others. GRA emphasizes strict supervision over operators’ compliance and warns of disciplinary action against errant casino operators.
[Note: A casino special employee license is issued by GRA to individuals involved in casino-related functions or decision-making.]
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}