Alleged SkyCity offences reflect much wider wrongdoing

The Australian regulator alleges SkyCity Adelaide laundered $4 billion. (Image: 2ZB)

Mon, 30 Jan 2023

The alleged sins of the SkyCity Adelaide casino are truly awful.It supposedly allowed money laundering of more than A$4 billion (NZ$4.38b) by high-rollers and has been woefully lacking in proper processes, systems and controls to identify and stop money laundering.But these sins pale into insignificance next to the alleged crimes of other Australian casino operators and even major banks, Commonwealth Bank of Australia (CBA owns ASB Bank here) and Westpac.Clearly, this is a cultural and systemic problem that goes way beyond SkyCity.Westpac has f...

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