{"id":7183,"date":"2024-05-21T11:15:04","date_gmt":"2024-05-21T11:15:04","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/05\/21\/skycity-resolves-alleged-non-compliance-issues-with-new-zealands-dia\/"},"modified":"2024-05-21T11:15:04","modified_gmt":"2024-05-21T11:15:04","slug":"skycity-resolves-alleged-non-compliance-issues-with-new-zealands-dia","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/05\/21\/skycity-resolves-alleged-non-compliance-issues-with-new-zealands-dia\/","title":{"rendered":"SkyCity Resolves Alleged Non-Compliance Issues with New Zealand\u2019s DIA"},"content":{"rendered":"<div>\n<p>Lately, the Department of Internal Affairs (DIA) announced that it intends to file a lawsuit against SkyCity and its affiliate <a href=\"https:\/\/igaming.org\/casino-news\/new-zealands-skycity-entertainment-faces-license-suspension-over-compliance-concerns\/\">SkyCity Casino Management<\/a> (SCML) for alleged breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 in New Zealand.<\/p>\n<p>The Act\u2019s five different grounds of action, which the DIA believes to be significant compliance deficiencies, are the basis for its determination. SkyCity said that the majority of the problems are historical and were previously reported to the DIA, yet the regulatory body went ahead and filed a lawsuit.<\/p>\n<h2><strong>Remedial Measures and Settlement<\/strong><\/h2>\n<p>In response, SkyCity underscored its ongoing efforts to rectify compliance deficiencies. Since late 2021, the company has implemented an enhancement program focusing on bolstering compliance infrastructure through investments in personnel, technology, and process evaluations.<\/p>\n<p>After negotiations, SkyCity reached a settlement with the DIA, admitting to breaching its obligations under the Act. These breaches occurred between February 2018 and March 2023, encompassing lapses in risk assessment, compliance monitoring, customer due diligence, and business relationship termination.<\/p>\n<p>Importantly, the DIA clarified that while deficiencies were identified, there\u2019s no evidence suggesting SkyCity directly engaged in money laundering or terrorism financing activities.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Sportbet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/12\/250x250-sportbetone.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Sportbet\" target=\"_blank\" rel=\"nofollow noopener\">Sportbet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>175% Extra +<strong> $75 Risk Free Bet<\/strong>!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. 175% on 1st Deposit + $75 Risk Free Bet<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/sbet\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>As part of the settlement, both parties agreed to recommend to the high court a penalty of NZ$4.16 million. This resolution, albeit involving a significant financial penalty, allows for a swift conclusion without protracted litigation.<\/p>\n<p><em>\u201cThis agreement is an impactful outcome,\u201d<\/em> remarked Mike Stone, AML\/CFT group director at the DIA. <em>\u201cWhile we consider these regulatory breaches to be serious, we are pleased that SkyCity acknowledged responsibility for what were significant failings.\u201d<\/em><\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/skycity-resolves-alleged-non-compliance-issues-with-new-zealands-dia\/\">SkyCity Resolves Alleged Non-Compliance Issues with New Zealand\u2019s DIA<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Lately, the Department of Internal Affairs (DIA) announced that it intends to file a lawsuit against SkyCity and its affiliate SkyCity Casino Management (SCML) for alleged breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 in New Zealand. The Act\u2019s five different grounds of action, which the DIA believes to be significant [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-7183","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=7183"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7183\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=7183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=7183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=7183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}