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An 86-page report investigating alleged money laundering through an electronic game console (EGM) in New South Wales, Australia, said billions of Australian dollars may have been involved and recommended that the Australian government mandate cashless play as a way to curb it. "Criminals were siphoning off billions of dollars in 'dirty' cash each year through poker machines in bars and clubs," the New South Wales Crime Commission said in a press release, but "there was no effective control or data collection to identify or prosecute those involved." The state's gaming sector has recently come under special scrutiny, with licenses for Star Entertainment Group's flagship Star Sydney Casino suspended "infinite" from Oct. 21 and properties under state supervision, following a separate investigation that found multiple failures in anti-money laundering practices in high-yield gambling. The report on the game console recommends "mandatory" cashless games, and suggested it would "minimize money laundering associated with EGM by eliminating anonymity and increasing traceability of EGM-related transactions." "This will allow law enforcement to identify and respond to money laundering and improve the analysis of gambling and money laundering-related data," the paper published on Wednesday added The report said few known criminals use slot machines for organized money laundering, but some are carrying out incidental money laundering using criminal proceeds for leisure betting. The investigation found "possibly strong evidence" that drug traders were gambling on a large scale through EGM "with money earned from committing crimes." "They were not trying to disguise or 'launder' the source of the cash, they were using the cash proceeds from their crimes to gamble," the report added. The survey sought information on what 23 different clubs called 'high rollers' representing 54 licensed stadiums across New South Wales over the 12-month period from 1 April 2021 to 31 March this year. According to a press release, about A$95 billion ($61.6 billion) of legal and illegal cash flows through the slot machines of bars and clubs in New South Wales each year, making it "Australia's gambling capital." The report said about 86,700 machines were active in the market during the study period.
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