Resorts World Sentosa fined for regulatory breaches
The casino resort has been fined for breaches of anti-money laundering regulations.
Singapore.- The Casino Regulatory Authority (CRA) has announced that it has issued fines totalling SG$95,000 (US$69,400) against Resorts World Sentosa (RWS) for regulatory violations during the 2022/23 reporting period.
It issued two fines – SG$20,000 and SG$75,000 – for breaches of Singapore’s Casino Control (Prevention of Money Laundering and Terrorism Financing) Regulations 2009, specifically related to lapses in anti-money laundering measures. The casino regulator identified a “failure to perform customer due diligence measures” and “failure to perform enhanced customer due diligence measures.”
The regulator did not provide further details about the nature of the violations. Resorts World Sentosa, operated by Genting Singapore, was fined SGD275,000 (US$191,000) during the 2021-22 reporting period for failure to perform customer due diligence measures and for a violation of the Casino Control (Internal Controls) Regulations 2013 through a failure to implement a system of internal controls.
The Gambling Regulatory Authority of Singapore (GRA), which oversees the entire gambling landscape in Singapore, was launched in August 2022. It has the authority to issue operator licences for gambling services such as betting and lottery businesses, gaming machine rooms and gambling in private establishments.
