In August 2019, the first allegation against the gaming group Crown in Australia was loud. Since then there has been much investigation, management reorganized and Crown's license revoked. After the new appointment to the CEO position, there was some calm for the first time, but this did not last long. Again there are headlines related to money laundering at Crown: The millionaire Michael Gu is said to be involved.

Gu used the Crown Casino for money laundering

It was actually assumed that the investigations into money laundering at the Crown Casino were over. The requested management reshuffle was completed and Ken Benton had voluntarily vacated his post. In addition, the cooperation between Crown and the regulatory authorities has worked very well recently, so that the chances of rehabilitation were considered good . The latest investigations could destroy any hope that the lost license will be granted again. Or maybe not?

The money laundering found took place between August 2014 and May 2017. Thus, these past incidents should not affect the current status. What weighs heavily, however, is that Michael Gu transferred the equivalent of five million euros to Crown's accounts. The former statement by the management that they did not notice anything about the money laundering can therefore be questioned. It also weighs heavily that a few years later - in 2020 - the company iProsperty filed for bankruptcy. From this company came the money that Michael Gu transferred to Crown's accounts.

As it turned out in retrospect, Gu had not used the money received from the investors for this purpose, but had spent it on private amusements. As a result, investors suffered a total loss of over $ 300 million . Since the bankruptcy filing, Gu has not been seen - whereabouts unknown.

Crown must undergo further investigation

Crown is now in the spotlight again, as this group had not reported the payments from Gu at the time. However, according to the license conditions, this would have been their duty. Payments alone are not the reason why there is new research . During the investigation, the allegation was made that Crown had accepted Chinese customers. These were by no means normal customers, but rather millionaires, some of whom are involved in criminal activities. In addition, according to the Australian license conditions, no customers may be accepted in whose country gambling is prohibited.

During the investigation, the question arose of how customers could get a visa. Therefore , the Australian consulate was sometimes under suspicion of having issued false visas. The latest Michael Gu-related findings come full circle: iProsperty was a co-sponsor of the Australian Visa program. This program accelerated the issuing of visas. It is now quite conceivable that Michael Gu worked with the junk operators who were responsible for referring customers. If these suspicions are confirmed, Crown could face another penalty.

The future will tell to what extent there will be a penalty for past incidents , although Crown has not been guilty of anything new. Even experts cannot estimate anything at the moment. It is conceivable that a new penalty will not be pronounced against the corporation, but against the former Crown staff. Despite all of this, Crown could be more closely monitored in the future and invest significantly more to regain its trust.

Are there money laundering incidents in online casinos?

So far, no money laundering incidents have been identified in best online casinos. If you look at the high sums that Gu has deposited in the Crown Casino, the following becomes clear: Should a player ever deposit such a large amount at an online casino, this would be noticed immediately. As a result, it would be reported to the competent authority. Apart from the fact that most countries have now set a deposit limit , for example 1,000 euros per month.

Seen in this way, it would not even be possible for a single player to deposit such a large sum without accusation of money laundering. Also new players from the online casino checks . Anonymous deposits would not be possible. At the Crown Casino, however, the deposits were not made anonymously at all. It can therefore be eagerly awaited what excuse Crown has for the deposits.

If one compares the approach of the online casinos and that of the local casinos, the idea arises that an online casino is safer. At least this is true if it is a party with license concerns . With this all slots , sports betting and casino games are enjoyed with a high degree of security. In addition, playing via smartphone or PC inspires with many bonuses and promotions - an advantage that should not be underestimated compared to an on-site gaming venue.