The DIA has launched civil proceedings in the High Court against Christchurch Casino for alleged failures to comply with the AML/CFT Act.

It is alleged that Christchurch Casino have failed to establish, implement and maintain a robust AML/CFT compliance programme, conduct enhanced due diligence and terminate customer relationships when required, maintain records, and monitor customer accounts. These failures occurred between December 2018 and December 2023.

This comes soon after the $4.16million fine issued to SkyCity Entertainment Group by the Auckland High Court for similar failures under the Act.

While the casino sector in New Zealand is small, the rest of the sector is essentially on notice. We have already seen significant action taken against Australian casinos with very high fines being issued. Additionally, with two of New Zealand’s casinos facing deep scrutiny from the sector supervisor, it is a clear signal that the gambling sector is being carefully examined for their compliance with the Act.

For help with your AML/CFT compliance including audits, advisory, and training, get in touch with our team of experts. Contact us here.

 

Louise Coad, Senior Consultant, MA, CAMS

Louise originally started her career in IT Managed Services and transitioned into the AML space in 2018. She has worked in other AML consultancy firms in New Zealand, and was a Senior Regulator at the Department of Internal Affairs. In her time in the AML sector, Louise has carried out consultancy for Phase 2 entities, undertaken audits and inspections, training, and written AML/CFT documentation for all types of reporting entities.

Louise undertakes audits, health checks, and development of compliance documentation, looking for pragmatic and clear ways towards compliance that bear the business’s needs in mind. She has a Master of Arts, specialising in Defence and Security, and also holds a CAMS qualification.