Marina Bay Sands scandal puts Singapore casinos under the microscope
Singapore had already started making headway on a more transparent gambling market when it brought oversight of the industry under the control of one regulator in April. Those efforts, though, were forced into overdrive when the Marina Bay Sands casino, owned by Las Vegas Sands (LVS) and Sheldon Adelson, found itself in the crosshairs of a US Department of Justice (DOJ) probe into possible money laundering. With that ongoing investigation threatening Singapore’s reputation, the country is now going to take a closer look at its gambling laws to ensure that they are in line with recommendations established by the Financial Action Task Force (FATF).
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