Star Entertainment: money laundering claims to teetering on the brink

Years of regulatory scrutiny and penalties following money laundering accusations, management exodus, and border closures due to COVID-19 have pushed Star, the country's second-largest casino operator to the brink of bankruptcy. Media outlets reported that Star's own internal review accused the company of failing to rein in money laundering and fraud at its two resorts. The state of New South Wales began a public inquiry and Australia's financial crime regulator (AUSTRAC) initiated a probe into possible breaches of anti-money laundering (AML) laws at Star's largest casino in Sydney.