{"id":7941,"date":"2024-09-26T08:56:42","date_gmt":"2024-09-26T08:56:42","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/09\/26\/skycity-faces-4-16m-aml-penalty-from-new-zealand-high-court\/"},"modified":"2024-09-26T08:56:42","modified_gmt":"2024-09-26T08:56:42","slug":"skycity-faces-4-16m-aml-penalty-from-new-zealand-high-court","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/09\/26\/skycity-faces-4-16m-aml-penalty-from-new-zealand-high-court\/","title":{"rendered":"SkyCity Faces $4.16M AML Penalty from New Zealand High Court"},"content":{"rendered":"<div>\n<p>The New Zealand High Court has finalized a penalty of NZ$4.16 million (US$2.61 million) against SkyCity Entertainment Group for failing to comply with anti-money laundering (AML) and countering financing of terrorism (CTF) regulations. SkyCity now has 15 working days to pay the fine in full.<\/p>\n<p>This fine stems from a <strong><a href=\"https:\/\/igaming.org\/casino-news\/skycity-resolves-alleged-non-compliance-issues-with-new-zealands-dia\/\">settlement<\/a> <\/strong>announced in June between SkyCity and New Zealand\u2019s Department of Internal Affairs (DIA). The legal issues trace back to February 2022, when a customer at SkyCity Auckland lodged a complaint about the casino\u2019s non-compliance with responsible gambling rules. The DIA\u2019s investigation revealed breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act from August 2017 to February 2021.<\/p>\n<p>During its investigation, the DIA found concerns regarding extended play sessions at the casino. SkyCity admitted to these failings but also mentioned an enhancement program that started in late 2021 to improve its AML and CTF procedures.<\/p>\n<p>Beyond the financial penalty, SkyCity agreed to a temporary closure of its Auckland casino. From 9-13 September, the gaming floor and associated food and beverage outlets were shut down for five days. The finalization of this fine brings an official close to the DIA\u2019s civil case against SkyCity.<\/p>\n<p>SkyCity\u2019s CEO, Jason Walbridge, emphasized the company\u2019s commitment to improving its AML and CTF systems.<em> \u201cAs a casino operator, we have a responsibility to combat money laundering and terrorism financing. This is a responsibility we take very seriously,\u201d<\/em> Walbridge said. He also reassured the public that SkyCity will continue to strengthen its AML and CTF measures to meet both legal requirements and community expectations.<\/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\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.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\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/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><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/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\/betus\/\" 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>This isn\u2019t the first time SkyCity has faced penalties for AML and CTF failures. In May, the company agreed to pay <strong><a href=\"https:\/\/igaming.org\/casino-news\/federal-court-orders-skycity-adelaide-to-pay-au67-million-fine\/\">AU$67.0 million<\/a><\/strong> in civil penalties to Australia\u2019s financial regulator, Austrac, related to its Adelaide casino.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/skycity-faces-4-16m-aml-penalty-from-new-zealand-high-court\/\">SkyCity Faces $4.16M AML Penalty from New Zealand High Court<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The New Zealand High Court has finalized a penalty of NZ$4.16 million (US$2.61 million) against SkyCity Entertainment Group for failing to comply with anti-money laundering (AML) and countering financing of terrorism (CTF) regulations. SkyCity now has 15 working days to pay the fine in full. This fine stems from a settlement announced in June between [&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-7941","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\/7941","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=7941"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/7941\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=7941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=7941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=7941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}