Singapore watchdog fines Resorts World Sentosa $1.7m

Resorts World Sentosa has been fined S$2.25m (US$1.7m) by the Singapore gaming regulator, the Gambling Regulatory Authority, for failing to perform due diligence checks.

According to the Singapore gaming watchdog, RWS failed to perform due diligence when receiving cash of S$5,000 ($3,725) or more from third parties to deposit into customers’ accounts. 

In 2020, GRA directed casino operators RWS and Marina Bay Sands to conduct a review of certain patrons’ activities, after which it discovered non-compliances for some transactions.

It then conducted further investigations which revealed that between December 2016 and December 2019, RWS had failed to perform prescribed customer due diligence checks for certain transactions where RWS’s employees collected cash of S$5,000 ($3,725) or more from third parties for purposes of depositing into the accounts of RWS’ patrons.

Source: Asia Gaming Brief