The New Zealand Department of Internal Affairs (DIA) has agreed a settlement in the civil case against Christchurch Casinos for alleged anti-money laundering (AML) and counter-terrorism financing (CTF) offences.
As part of the settlement, Christchurch Casinos has admitted all seven causes of action in the Department’s amended statement of claim and has agreed to the DIA’s recommendation that the High Court impose a penalty of NZ$5.06 million (approximately €2.59 million).
The case against Christchurch Casinos followed an investigation into the operator by the DIA between May 2023 and September 2024.
During the investigation, the DIA found that the operator had breached a number of its obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
The investigation found that Christchurch Casinos had failed to establish, implement and maintain a compliant AML/CFT programme, adequately monitor accounts, conduct compliant enhanced customer due diligence, terminate existing business relationships when required, and keep records as required by the Act.
The DIA said that these failings occured between December 2018 and December 2023.
“This agreement is a significant and positive outcome. It’s encouraging to achieve our intended result without the time and expense of court proceedings,” said DIA AML/CFT director Serge Sablyak.
“While the regulatory breaches were serious, we acknowledge Christchurch Casino’s decision to admit to the breaches and take responsibility for what were substantial failings. We’re proud that our work has strengthened the integrity of New Zealand’s financial system and has helped build public confidence in the prevention of money laundering and terrorism financing.”