Earlier this year, the launched a second investigation into Star on concerns that it had not sufficiently addressed its cultural shortcomings after being exposed for major anti-money laundering and counter-terrorism failures in 2022.
Serious allegations include a cash fraud against Star, a failure to run source of wealth checks on hundreds of members flagged as high risk, and fraudulent guest welfare entries that put already vulnerable customers at higher risk of harm.
At what point do [the regulators] say, 'enough is enough, we're taking this from you'? And at what point do [the Star] lose their social license?
The Star will dedicate all necessary resources to the inquiry to ensure it meets all its requirements and expectations.
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